Ripple (XRP) has slowed down after an aggressive climb last week. The price has now formed a triple top as seen on the XRP/USD 4H chart above. This is a very strong resistance which is unlikely to be breached at this point. Ripple (XRP) does not have the bullish momentum to break this resistance from its current levels. The price will have to retrace back to the support at $0.2738 before it can retest the resistance. However, the price action and most technical indicators suggest that Ripple (XRP) is unlikely to stop there and that the price may retest all the way down to retest previous lows.
Currently, Ripple (XRP) has three important support levels. The first one is a weak support at $0.2738. The next one is relatively strong at $0.2706 but it can also be breached easily at this point considering the low trading volume. The last support at $0.2530 is a critical one and is unlikely to be breached. If this support is broken, Ripple (XRP) will be in a free fall and the price could fall all the way down to $0.18. Considering the low trading volume, it may not be advisable to enter a short position for Ripple (XRP) at this point, but the setup is highly in favor of the bears and the bulls are not expected to put up a fight as that would be no different than catching a falling knife.
Read Further: cryptodaily.co.uk/20...etest-previous-lows/
Currently, Ripple (XRP) has three important support levels. The first one is a weak support at $0.2738. The next one is relatively strong at $0.2706 but it can also be breached easily at this point considering the low trading volume. The last support at $0.2530 is a critical one and is unlikely to be breached. If this support is broken, Ripple (XRP) will be in a free fall and the price could fall all the way down to $0.18. Considering the low trading volume, it may not be advisable to enter a short position for Ripple (XRP) at this point, but the setup is highly in favor of the bears and the bulls are not expected to put up a fight as that would be no different than catching a falling knife.
Read Further: cryptodaily.co.uk/20...etest-previous-lows/