Ripple ($XRP) Technical Analysis: Focus on Key Support and Resistance Levels $XRP

On the daily chart of Ripple (XRP), if the price breaks out and stabilizes above the permanent resistance level of $0.53, then higher overhead resistance levels can be targeted.

However, if the closing price falls below the key support level of $0.41, caution should be exercised as this may indicate further downside risks.

Personally recommended strategy:

Breakout of $0.53: If the XRP price successfully breaks out and stabilizes above $0.53, a long strategy can be considered, targeting higher resistance levels.

Breaking below $0.41: If the price falls below the $0.41 support level, it is recommended to operate with caution and may need to consider stop loss or short-term risk aversion.

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