Ripple Technical Analysis 29 October, 2021

• Ripple reversed from support zone
• Likely to rise to resistance level 1.200

Ripple cryptocurrency recently reversed up from the support zone lying between the pivotal support level 1.00 (which has been reversing this cryptocurrency from the start of September), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from the end of September. The upward reversal from this support zone started the active short-term impulse wave (iii).

Given the strength of the aforementioned support zone and the improvement in risk sentiment as seen across the global crypto markets, Ripple cryptocurrency can be expected to rise further toward the next resistance level 1.200 (which stopped the previous short-term impulse wave (i)).

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