Cryptocurrency

<p style="text-align: justify;">In the cryptocurrency market, technical analysis is a key indicator that investors, especially those trading in the futures market, need to continually monitor. So, what insights does the technical analysis provide for Ripple, which is trading at a level of $0.6167 at the time the article was written? We examine this with a detailed chart analysis and key support and resistance levels.</p>
<h2 style="text-align: justify;" id="ripple-chart-analysis">Ripple Chart Analysis</h2>
<p style="text-align: justify;">The first notable formation structure in the daily Ripple chart is the ascending channel formation. Despite many resistance breakouts, particularly influenced by <a href="https://newslinker.co/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">news</a> sources, these developments resulted in a short-lived hype atmosphere and worked as a bull trap. In recent days, the narrowing of the XRP price in a tight range will determine the direction of the price with the expected support or resistance breakout in this pair.</p>
<p style="text-align: justify;">The most important support levels to follow in the daily Ripple chart are; $0.6047 / $0.5787 and $0.5524, respectively. Especially in recent days, if a daily bar closure occurs below the crucial $0.6047 level, XRP will face selling pressure.</p>
<p style="text-align: justify;">The most important resistance levels to watch in the Ripple chart are; $0.6370 / $0.6619 and $0.7002, respectively. Particularly in recent days, if a daily bar closure occurs above the significant $0.6370 level, it will result in a momentum gain for the XRP price.</p>
<h2 style="text-align: justify;" id="xrp-btc-chart-analysis">XRP/BTC Chart Analysis</h2>
<p style="text-align: justify;">In the XRP/<a href="https://en.coin-turk.com/critical-zone-alarm-in-btc-eth-and-doge-price-prediction-with-charts/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> pair, the wedge formation structure has continued to work since July. In the pair, which is at its lowest levels in recent times, we can see Ripple losing value against <a href="https://en.coin-turk.com/anthony-scaramucci-the-current-state-of-the-financial-system-and-bitcoins-role/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>. Most recently, the pair touched the support line and thus managed to gather strength.</p>
<p style="text-align: justify;">The most important support levels to follow in the weekly XRP/BTC chart are; 0.00001399 / 0.00001249 and 0.00001087, respectively. Especially if a weekly bar closure occurs below the 0.00001399 level, which intersects with the support line, Ripple will lose value against Bitcoin.</p>
<p style="text-align: justify;">The most important resistance levels to consider in the XRP/BTC pair are; 0.00001577 / 0.00001699 and 0.00001890, respectively. Particularly, surpassing the 0.00001699 level, which intersects with the EMA 21 (blue line), will result in Ripple gaining value against Bitcoin.</p> <span style="font-weight:bold;font-size:16px">Continue Reading:</span> <a href="https://en.coin-turk.com/technical-analysis-of-the-cryptocurrency-market-a-close-look-at-ripple/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/technical-analysis-of-the-cryptocurrency-market-a-close-look-at-ripple/</a>

Technical Analysis of the Cryptocurrency Market: A Close Look at Ripple

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