Ripple price seeks rebound in key support area

Analyst Shayan's analysis shows that Ripple's price has recently been within a key support area that extends from $0.58 to the dynamic support provided by the upper boundary of the triangle pattern. This key support area is expected to prevent further downward pressure, setting the stage for a significant rally in the medium term. Upon a deeper examination of the daily chart, it is clear that Ripple has recently experienced significant declines that have eventually landed in a key support area that encompasses the $0.57 marker and is reinforced by the dynamic support provided by the upper boundary of the triangle. As such, it is expected that increased buying pressure around this key level will push the price towards the key resistance at $0.66. However, Ripple's long-term trajectory seems to be consolidating in a decisive range with $0.7 as a key resistance and $0.6 as an important support until a breakout occurs.