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19.04.202111:24 Analytische Bewertungen Forex: Technical analysis of Ripple for April 19, 2021

Exchange Rates 19.04.2021 analysis

Ripple spiked to a high of 1.9669 before being forced lower in what we expects is a temporary correction and once complete renewed upside pressure is expected towards 2.7585 and possibly even a spike closer to the 2018 peak at 3.3170.

Support is now seen at 1.3627, which ideally will be able to protect the downside for the next impulsive rally higher to 2.7585 and possibly even above.

Trading recommendation:

Due to the last weeks strong rally buying holds a larger than normal risk, as there's no natural stop before just below 0.6194, but we remain positive towards Ripple for more upside pressure.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Viele Grüße,
Analytiker: Torben Melsted
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