. RIPPLE: Weekly Trading Outlook - 22 May 2023

RIPPLE: Weekly Trading Outlook

22 May 2023

RIPPLE: WEEKLY SCENARIO

RIPPLE Technical Analysis: Weekly Chart

In the weekly charts, RIPPLE is trading in an up channel. RIPPLE is currently trading above all SMA except MA (5).

RSI is in the buying zone which indicates bullishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 0.446140 the resistance level is at 0.80000

RIPPLE will trade in an up channel until there is a trend reversal.

RIPPLE Technical Analysis: Daily Chart

In the daily charts, RIPPLE is trading in a down channel. RIPPLE is currently trading below all SMA except MA (5)

RSI is in the neutral zone which indicates neutralness. MACD is currently below zero which indicates bearishness.

Its immediate support is 0.44500 the resistance level is at 0.80000

RIPPLE will trade in a down channel until there is a trend reversal.

How to Trade RIPPLE this Week:

RIPPLE will follow the uptrend until its trend reversal. So, remain bullish on RIPPLE. However, if it breaks the support level go bearish.

TRADE SUGGESTION- BUY AT 0.44500, TAKE PROFIT AT 0.80000 AND STOP LOSS AT 0.40000.