Ripple [XRP] bounces from mid-range support, but advantage remains with bears
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.A move upward to the resistance at $0.395 is likely.
The VPVR tool showed the Point of Control to lie at $0.387. Above this level lay a horizontal long-term significance level at $0.395. Hence, it was likely that the bounce from $0.37 would meet stern resistance in this zone. Yet, the defense of $0.37 is significant as well. Although the Awesome Oscillator was beneath the zero line to denote bearish momentum held sway, buyers can be on the lookout. Lower timeframes such as the one-hour show the market structure was flipped to bullish, and the $0.372-$0.376 region will be defended by buyers.
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