The sellers are at the bottom of the chart as Ripple fluctuates at $0.22 and $0.23. Ripple may commence consolidation if the price at $0.23 holds
Interestingly, Ripple briefly fell to a low of $0.22 and bounced back. The bounces are signs of bearish exhaustion as the market pulled back to consolidate above $0.23. The sellers are expected to book profits as the price falls to the bottom of the chart. Ripple is likely to revisit the low at $0.22 or fluctuates above $0.23. From every indication, the price fall is continuing as the bulls fail to stop the downward fall. There are indications that the price fall will reach the low at $0.18
According to the stochastic, the market is beneath the 20% range. This implies that the coin is under bear control.
Ripple is pausing as it fluctuates above $0.23. It is also expected if the price at $0.23 holds, Ripple will continue to fluctuate for a few more days. Nevertheless, traders are to look out for a buy set up to initiate long orders. The market has fallen to a low of $0.23 and it is an invitation for the buyers to come in.
Key Supply Zones: $0.35, $0.40, $0.45
Key Demand zones: $0.25, $0.20, $0.15
Disclaimer. This analysis and forecast are the personal opinions of the author are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.