Ripple At The Demand Zone

Ripple is going through some wild swings, trading up and down, from $0.15 to $0.30 and continues to do so. The trend remains undetermined while support and resistance are holding, although the growth probability is slightly higher due to several reasons.

On the 2nd of October, Ripple rejected the 200 Moving Average, after which it gained 55% in value against USD. Today Ripple has come back to the same support area near $0.20, and yet again it rejecting the 200 Moving Average. Additionally, the 3/1 trendline of the Gann Fan is being rejected. It seems that the momentum is bullish and Ripple should continue growing.

Nevertheless, breakout below $18 could push it back towards $15 support, but this scenario is less likely at this point.

SHARE

LEAVE A REPLY

Please enter your comment!
Please enter your name here