Ripple Regains Footing

Ripple remains range bound in $0.90's, currently at $0.90. Little has changed since yesterday, and Ripple did not react as sharply as other cryptos which tested respective lows. But it did retest $0.87, which is exactly the level we called out here to the penny. Diligent readers were rewarded with the opportunity to buy back at this level. Like the other cryptos, it seems to be gearing up for a breakout, but has faced a setback. If it does eventually break out, levels in the low $1 handle like $1, $1.03, and $1.06 will provide resistance. It must break through $0.95 first, which is a significant level for Ripple. From below, $0.90, $0.87, $0.85 and $0.79 will offer support. Again, if we breakdown from $0.90, $0.87 will offer strong support. The Kovach Momentum Indicators have completely levelled off reflecting the consolidation in volatility.

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