Analysis Cryptos Support & Resistance

Ripple in triangle pattern, 0.4015 as resistance

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  • December 13, 2022
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Ripple continues to move sideways in the short term. It was trading at 0.3905 at the time of writing below 0.3985 today’s high. It has increased by 7.49% from yesterday’s low of 0.3707 to today’s high.

In the last 24 hours, XRP/USD is up by 3.48% and by 0.75% in the last 7 days. BTC/USD’s upside continuation could force the altcoin to jump higher as well.

XRP/USD Accumulates More Bullish Energy!

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Technically, the price action developed a triangle pattern. Escaping from this formation could bring new opportunities.

After taking out the descending pitchfork’s upper median line (uml), the price signaled a new leg higher. Still, we need confirmation before going long again.

XRP/USD Forecast!

A valid breakout above the downtrend line and above 0.4015 indicates further growth and brings long setups.

The material has been provided by InstaForex Company – www.instaforex.com

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