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XRPUSD, Technical Analysis

9/14/2022 1:28 PM

The XRP coin moves within a corrective sideways channel at 0.3364, reversing downwards.


On the four-hour chart, the key support is 0.3130. After its breakdown, the decline may reach the year's low of 0.2873. The technical indicators have already fully reversed and issued a sell signal: the Alligator indicator's EMA oscillation range expands downwards, and the histogram of the AO oscillator is actively decreasing in the sell zone.


On the daily chart of the asset, a local ascending channel is forming with dynamic boundaries 0.3200–0.4200, and the price continues to decline towards the support line at 0.3130. Technical indicators are uncertain and preparing to issue a new sell signal: the Alligator indicator's EMA oscillation range is still quite narrow, and the AO oscillator histogram forms downward bars.

Overall, both charts point to a likely continuation of the decline, with a global target around the all-time low of 0.2873.

Resistance levels: 0.3605, 0.4299. | Support levels: 0.3136, 0.2873.

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