XRP Wrestles with Support, Hoping for a Reversal

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In Brief
  • There is long-term support and resistance at $0.23 and $0.40.

  • XRP has found support above the 200-day MA.

  • A drop below $0.211 would invalidate the bullish scenario.

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The Ripple (XRP) price has retraced all the way back to an important support level. If the support holds and can give XRP a bounce, there is a lot of room to the upside for the price to go. XRP Long-Term Breakout At the beginning of July, the XRP price broke out from a long-term descending resistance line and continued to increase until it reached a local high of $0.327 on Aug
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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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