quantguy

Ripple Finds Support at the KRI

BITSTAMP:XRPUSD   XRP / U.S. Dollar
While Ripple was not immune to the fallout afflicting the cryptoverse, it was not hit quite as hard as the other majors. XRP is currently hanging on to support at the lower bound of the KRI at $0.74. It has smashed through the lower bound of the range it once held strong. After $0.74, we must consider levels of support at $0.70, then $0.69. After this, there is a vacuum zone to the $0.50 handle, at $0.59, and $0.52. Levels from above are dense due to the range period XRP once held. We have to contend with $0.79 first, then we may consider levels in the $0.80 handle like $0.82, $0.83, $0.85, and $0.86. These will provide resistance if Ripple wishes to revert to familiar territory.

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