Ripple Technical Analysis 12 October, 2021

• Ripple reversed from resistance zone
• Likely to fall to parity

Ripple cryptocurrency recently reversed down from the resistance zone lying between the key resistance level 1.213 (top of the daily Shooting Star from the start of September), upper daily Bollinger Band and 61,8% Fibonacci correction of the previous downward ABC correction 2 from the start of September. The downward reversal from this resistance zone started the active short-term corrective wave (ii).

Given the rising bearish sentiment seen across the cryptocurrency markets today, Ripple cryptocurrency can be expected to fall further toward the next round support at parity, 1,0000 (former resistance from the end of September target price for the completion of the active corrective wave (ii)).

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