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Ripple reclaims some upside

25 Sep, 2020

Yesterday, Ripple (XRPUSD) traded to as low as 0.2196 after it had broken below the noted support level at 0.2290. The move to the lows, underneath 0.22 was noted as representing good long term value and perhaps that fact helped to encourage some further buying down there yesterday. The subsequent recovery has taken the price back above that 0.2290 level, to as high as 0.2340 late yesterday evening. It has backed off from there on interim profit taking but 0.2290 looks like it is holding the downside in check again for the time being. Earlier this morning the price drifted back to as low as 0.2305, but it has steadied since and all the while it remains above 0.2290, then there is the prospect that Ripple might recover more of the ground it has given up recently. However, it will still need to make a sustained recovery back above 0.2350 in order to endorse the upside further. XRPUSD is just now trading at 0.2320

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