. Ripple - Cryptocurrency Technical Analysis & Trade Ideas

RIPPLE – CRYPTOCURRENCY TECHNICAL ANALYSIS & TRADE IDEAS

08 Apr 2022

RIPPLE Technical Analysis: Weekly Chart

ripple technical analysis

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

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

The immediate support is 0.645556 and the resistance level is at 0.913058

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

RIPPLE Technical Analysis: Daily Chart

ripple technical analysis

In the daily charts, RIPPLE is trading below its previous upward channel.

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

The immediate support is 0.750882 and the resistance level is at 0.805757

RIPPLE has broken below its previous upward channel.

How to trade RIPPLE this week:

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

TRADE SUGGESTION: SELL AT 0.612464, TAKE PROFIT AT 0.411148 AND STOP LOSS AT 0.783444