Ripple has dropped strongly and is now approaching major support at 0.8224 (Fibonacci extension, Elliott wave structure, horizontal swing low support, bullish divergence) and a strong bounce could occur at this level to push price up to at least 1.1511 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing major support above 8.4% where a corresponding bounce could occur. We are also seeing major bullish divergence vs price signaling that a reversal is impending.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,5,3) is seeing major support above 8.4% where a corresponding bounce could occur. We are also seeing major bullish divergence vs price signaling that a reversal is impending.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results