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After a downtrend from last week, the price has started to recover in the last hour.
Market prices are rising, and many cryptocurrencies are coming to test key levels.
After forming a downward triangle last week, XRP sold bears down and dropped below key levels at both $ 0.35 and $ 0.335.
$ 0.35 had long worked as a support level and $ 0.335 was a liquidity area with a previous decline of less than $ 0.35.
The recent peak reported the price to test $ 0.335 which now seems to have passed from a support level to a resistance level.
The recent price action on an hourly basis shows how the price is behaving compared to the levels.
In the initial decline of less than $ 0.35, the price met support at $ 0.335 but fell under the test.
After consolidation just below the $ 0.335 level after falling below, the price followed another decline, but the recent peak brought it back to the level where it is currently experiencing some resistance.
If the next significant move is a drop, an important indication for the price outlook will be whether the price forms a lower minimum or a lower minimum.
Key Takeaways:
- After forming a descending triangle pattern last week, the price fell below two key levels: $ 0.35 and $ 0.335.
- The price is back to test $ 0.335 as resistance.
- If the price drops from here, it will be important to monitor whether it has a higher or lower value.
Latest news from Ripple:
| NOTE: Investing or negotiating digital assets, such as those present here, is extremely speculative and involves considerable risks. This analysis should not be considered an investment advice, use it for information purposes only. The historical performance of the assets discussed is not indicative of future results. Statements, analyzes and information on blokt and associated or associated sites do not necessarily correspond to the opinion of blokt. This analysis should not be interpreted as advice for purchase, sale or storage and should not be taken as approval or recommendation of a particular asset. |
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