Ripple – Cryptocurrency Technical Analysis & Trade Ideas

Ripple – Cryptocurrency Technical Analysis & Trade Ideas

ripple technical analysis

RIPPLE Technical Analysis: Weekly Chart

In the weekly charts, RIPPLE is trading within a symmetrical triangle.

It is trading below all SMAs: MA (5), MA (20), ad MA (50).

The immediate support is 0.670376 and the resistance level is at 0.904786

RIPPLE is trading within a symmetrical triangle until there is a breakout or a breakdown.

RIPPLE Technical Analysis: Daily Chart

In the daily charts, RIPPLE is trading above its previous downward channel.

It is trading above MA (5) but below MA (20) and MA (50).

The immediate support is 0.741350 and the resistance level is at 0.799072

RIPPLE is trading above and outside its previous downward channel.

How to trade RIPPLE this week:

RIPPLE is trading within a symmetrical triangle until there is a breakout or a breakdown. If the price breakdown further, the following opportunity can be taken:

TRADE SUGGESTION: SELL AT 0.662104, TAKE PROFIT AT 0.513186 AND STOP LOSS AT 0.777929

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