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- XRP stuck inside a triangle on the short-term chart.
- The break in the interval may co-affect the sell-off in others.
XRP, the second largest cryptocurrency by market capitalization, is consolidating into a triangle after a comparatively milder sell-off that saw prices fall by nearly 20 percent in November, a modest figure compared to at 37 percent of Bitcoin.
The XRP / USD is down nearly 2% per day to $ 0.3566 and trading in a range of over 3% for the day. On the hourly chart, the XRP consolidated into a triangle after last month's sell-off and the interruption of this triangular interval could co-incite with the sell-off in other cryptocurrencies, which could mean that even XRP would be under pressure for the disadvantage.
For now, he is sitting exactly on the support of the lower end of the triangle and a breakup would immediately be bearish for prices. The next support is placed around $ 0.32.
XRP / USD 60-minute chart:
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