Ripple can rebound from support line of channel and start grow

Jan 23

Hello traders, I want share with you my opinion about Ripple. Looking at the chart, we can see how the price a not long time ago traded near the 0.5800 resistance level, which coincided with the seller zone, and soon reached this level and later broke it too. After this, Ripple rose to 0.6240 points and then started to decline inside the downward channel, where it in a short time broke the 0.5800 resistance level. But a long time price traded very close to this level and later finally rebounded and made a downward impulse to 0.5215 current resistance level, which coincided with the support line of the channel and resistance area. And the price at once rebounded and rose to the resistance line of the channel, but soon turned around and declined lower the 0.5215 level, thereby breaking it. Also recently Ripple fell below the resistance area, which continues to trades at the moment. So, I think XRP can decline to the support line and then it bounce and start to rise to the 0.5215 resistance level, therefore I set my target at this level. Please share this idea with your friends and click Boost 🚀