. RIPPLE (XRP) Technical Analysis, Forecast and Trade Signals

RIPPLE (XRP) Technical Analysis, Forecast and Trade Signals

03 Jun 2022

RIPPLE Technical Analysis: Weekly Chart

RIPPLE Technical Analysis

In the weekly charts, RIPPLE is trading in a downward channel.

It is trading below all SMAs: MA (20), MA (50), and MA (100).

RSI is in selling zone which indicates bearishness. MACD is currently trading below zero which indicates bearishness.

The immediate support is at 0.329046 and the resistance level is at 0.697698

RIPPLE is trading in a downward channel until there is a trend reversal.

RIPPLE Technical Analysis: Daily Chart

RIPPLE Technical Analysis

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

It is trading below all SMAs: MA (20), MA (50), and MA (100).

RSI is in selling zone which indicates bearishness. MACD is currently trading below zero which indicates bearishness.

The immediate support is at 0.356328 and the resistance level is at 0.452956

RIPPLE is trading outside and below its previous downward channel until there is a trend reversal.

How to trade RIPPLE this week:

RIPPLE is trading in a downward channel until there is a trend reversal and the following opportunity can be taken:

TRADE SUGGESTION: SELL AT 0.306568, TAKE PROFIT AT 0.162704, AND STOP-LOSS AT 0.409970