9 July Ripple Price Technical Analysis: Is there a bullish signal?


XRPUSD is trading at $0.4775 to press time, consolidating losses incurred late on Sunday. However, is there a bullish signal? Find out in the following 9 July Ripple Price Technical Analysis.

9 July, GKFX – The third largest coin by market value lost nearly 3% on a daily basis; however, it is unchanged since the start of the day. XRP’s market value is registered at $18.7B, with the average daily trading volume of $217M.

9 July Ripple Price Technical Analysis

From the technical point of view, the local support is created by $0.4500. If it is cleared, the sell-off may be extended to $0.4240, which is the lowest level since June 29.

The coin is glued to a bunch of hourly moving averages, which may imply some rangebound price action on the intraday level. A morning star candlestick pattern that appears on the hourly chat may signal that more upside is in store.

Local resistance is seen at 0.4900; this is where new selling orders may appear and push the coin back in the range. Once it is cleared, $0.5000 will come into focus.

XRPUSD, 1-hour chart

Disclaimer

This article 9 July Ripple Price Technical Analysis was provided by GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you, then this should be solely at your discretion, and GKFX will not be held accountable in any way.

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