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Ripple Modern Price Action Analysis for BINANCE:XRPUSDT by mohamadrezaKhorsand

In this post, we will analyze Ripple ( XRP) specifically. We review the fundamental news together and then make a technical analysis based on the modern price action style.

* Ripple Fundamental News

Although the SEC is hurting its domestic trade, Ripple is still making progress outside the United States. Fox Business’s Charles Gasparino has said that the situation of Ripple executives outside the United States is good since a lawsuit was recently filed against Ripple in the United States.

Yesterday, 82 million XRPs, equivalent to $ 89 million, were traded.

Brad Garlinghouse, CEO of Ripple, assured that Ripple would win in court.

* Ripple Technical Analysis

Ripple reached above $ 1 on August 13 and then stabilized above this price. However, in the September 7 fall, Ripple also fell below $ 1. From the point of view of Price Action, $ 1 level is a strong support and the probability of Ripple price falling below it is very low

Ripple is in a downtrend. At the bottom of this channel there is a strong blue support area that is less likely to fall below.

The most probable case is that the price of Ripple will rise to the ceiling of the red channel.

If the Ripple price can penetrate above 1.095 in this wave, a new uptrend will be formed. The process started on September 18.

You can read this post on my site in Persian

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