XRP analysis (Ripple) for today is carried out on the 6 hour timeframe. A bearish trendline is used to help determine the overhead resistance in Ripple coupled with horizontal resistance between ~$0.82 and $0.97.
Support is indicated by the green line, with ~$0.25 also used to indicate the level to watch as price closing below $0.25 would present a bearish bias.
Alternatively, price closing above the bearish trendline and also above the upper limit of resistance ($0.97) can be used as a conservative price entry into a long (buy) position.
Less conservative options in executing a long (buy) strategy would seek to enter the trade in anticipation of eventual breakout above resistance as mentioned above.
Support is indicated by the green line, with ~$0.25 also used to indicate the level to watch as price closing below $0.25 would present a bearish bias.
Alternatively, price closing above the bearish trendline and also above the upper limit of resistance ($0.97) can be used as a conservative price entry into a long (buy) position.
Less conservative options in executing a long (buy) strategy would seek to enter the trade in anticipation of eventual breakout above resistance as mentioned above.
