Ripple is approaching major support, watch for potential bounce!

Ripple has dropped strongly and is now approaching major support at 0.8224 ( Fibonacci extension , Elliott wave structure, horizontal swing low support, bullish divergence ) and a strong bounce could occur at this level to push price up to at least 1.1511 resistance ( Fibonacci retracement , horizontal overlap resistance).

Stochastic (34,5,3) is seeing major support above 8.4% where a corresponding bounce could occur. We are also seeing major bullish divergence vs price signaling that a reversal is impending.

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This analysis is provided as general market commentary and does not constitute investment advice.
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