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XRPUSD, Downward Dynamics – in the Future

9/7/2022 2:08 PM

The XRP coin is moving within a corrective sideways channel, reversing downwards, and is currently at 0.3166.


On the four-hour chart of the asset, the local downward wave is a narrow corridor within which the price rebounded from the resistance line at 0.3417 and reversed downwards with the target at the lower border of the 0.2700 range. Technical indicators gave a signal to sell: indicator Alligator’s EMA oscillation range expands downwards, and the histogram of the AO oscillator is actively decreasing in the sell zone.


On the daily chart, a sideways channel forms with dynamic boundaries of 0.2950–0.4240, while the price continues to decline towards the support line at 0.2950. Technical indicators strengthen the sell signal: indicator Alligator’s EMA oscillation range expands, and the histogram of the AO oscillator forms new downward bars.

In general, both charts indicate a likely continuation of the downward movement, the global target is to exit the sideways channel and decline to a historical low of around 0.2350.

Resistance levels: 0.3520, 0.4215. | Support levels: 0.2950, ​​0.2350.

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