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FX.co ★ Technical analysis of Ripple for February 17, 2021

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Crypto Analysis:::2021-02-17T12:07:07

Technical analysis of Ripple for February 17, 2021

Technical analysis of Ripple for February 17, 2021

Ripple vs. USD is trading below the key resistance level of 0.7000. It is likely to dip close to the support level of 0.4720 before staging the next serious attack on key-resistance at 0.7000. If so, it may climb higher levels in the weeks/months to come, with the next upside target seen at 0.9258 and 1.1783. Ultimately a return to the 2018 peak at 2.7500 could be seen.

Notably, only a clear break above 0.7000 will release the build-up energy and push Ripple much higher.

Trading recommendation:

It is recommended to open long deals if it breaks above 0.7000.

Analyst InstaForex
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