FX.co ★ RIPPLE Price Analysis, 23 June

Ripple could be close to finding an important technical bottom as downside selling pressure towards the popular coin looks to be weakening. The daily time frame shows that the XRPUSD pair is fast approaching trendline support from a falling price channel around the 0.5000 level. Falling price channels are often considered to be bullish pattern so the XRPUSD pair could stage a technical bounce from the bottom of the pattern.

The XRPUSD pair is only bullish while trading above the 0.6500 level, key resistance is found at the 0.7000 and the 0.8000 levels.

If the XRPUSD pair trades below the 0.6500 level, sellers may test the 0.5000 and 0.4400 levels