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 discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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