XRP Price Technical Analysis 29.09.2023

With the news that came in July, Ripple had shown a 105% increase. However, in a market dominated by a bearish trend and the absence of further news, retracements continued. As we mentioned in our previous XRP analysis, it received a response from the $0.41 level.

Of course, any positive news that may come from the XRP lawsuit will lead to strong upward movements. However, as seen in the daily chart, the range of $0.55 to $0.57 presents itself as a significant resistance zone. After gaining this zone and closing daily above it, the price will aim to test the $0.60 level, followed by the $0.66 region.

We should also consider that with strong news, the mentioned support and resistance levels could be easily breached. In case of possible retracements, as indicated in the chart, the $0.40 and $0.35 levels can be expected to act as support.

The analysis shared here are not intended as investment advice, but rather as potential short to medium-term trading opportunities in the market. The responsibility for taking trades and managing risks lies with the user. It is strongly recommended to use stop loss orders when executing trades.

Previous Article

Valkyrie Suspends ETH Futures Contracts Until ETF Approval

Next Article

FTX Exploit Update: $4 Million in Ether Shifts After Dormancy

Related Posts