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Ripple above major support, prepare for a potential bounce!

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XRP (BITSTAMP:XRPUSD)  
Tickmill Corretora  
BITSTAMP:XRPUSD   XRP
Trend Analysis Harmonic Patterns Chart Patterns ripple ripplelong ripplesshort xrpusdlong xrpusdshort xrpusd crytocurrency rippleidea ripplebreakout
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trendanalysis harmonicpatterns chartpattern ripple ripplelong ripplesshort xrpusdlong xrpusdshort xrpusd crytocurrency rippleidea ripplebreakout

Ripple remains above major support at 1.2007 (Fibonacci retracement, horizontal overlap support) and a potential bounce could occur at this level to push price all the way up to 1.7564 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (55,5,3) is seeing major support above 39% where a bounce could occur in the intermediate future. It also has good upside potential.

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Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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