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02.02.2022: Forex Analysis & Reviews: XRPUSD falls behind relative to other major cryptos.

XRPUSD is stuck just above $0.62. Price for the last 12 trading sessions has made no real progress. Although other major cryptocurrencies have made a clear bounce higher from January lows, XRP seems to have made no progress.

analytics61fa8664c71db.jpg

Red line -major resistance

Green line- major horizontal support

Blue lines- trading range

After the 22nd of January price has been mostly moving sideways inside a trading range. Price is moving between $0,54 and $0.65. The major horizontal support at $0.50 is still intact but we continue to believe that it will be tested soon. We believe the downside trend is not over. So far we have not seen a trend reversal confirmation. We have not seen any sign that would make us believe a major low is in.

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

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