The correction of XRP will take place after he was rejected at $ 3.6, but it was active to remain a crucial support.
Main support levels: $ 3, $ 2.7
Main resistance levels: $ 3.6, $ 4
1. Correction reinforced
Since touching the level of $ 3.6, Ripple’s token has introduced a correction and makes it lower highlights and lower lows. The downward trend was recently intensified with sellers who announced their presence by bringing the price to the support level of $ 3. If they succeed in breaking it later, Bears can test the support at $ 2.7.
2. Momentum remains bearish
In the past two weeks, the momentum Beerarish for XRP. Both the MACD and the RSI indicators have been crossed in Bearish territory and continue to make lower lows at the time of this post. This indicates that the correction is in full swing and there is no reversal in sight.
3. Sellers dominate
A quick glance at the volume profile shows that in the last 15 days, sellers have been absolutely dominated by closing five consecutive 3-day candles in red. This is somewhat atypical considering that XRP had such a strong rally for this.
However, the volume profile makes lower lows, which indicates the exhaustion of sellers. This opens the chance for buyers to return later.
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