Technical Analysis of Ripple (XRPBTC)

1)Ripple is in a major downtrend channel
2)There is a minor uptrend line in which ripple is taking support since 3 months.
3)It has been consolidating in the range of 0.00007651 and 0.00009370 for quite some time.
4)It is trading at 61.8% FIB retracement level.
5) Stochastic is giving a sell signal.

The next few days will be crucial to see whether it breaks the major bear trend channel and continues with the uptrend line.

xrp needs to break the resistance of 0.00009370 for any possible rally against btc .


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