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FX.co ★ Ripple shows promising price behavior

Ripple shows promising price behavior

XRP/USD is trading once again near $0.60. Price briefly moved above $0.60 today and is now trading just below it. Short-term trend remains supported as any pull back has been met by strong buyers and price is starting to make higher highs and higher lows.

Ripple shows promising price behavior

Yellow rectangle- resistance

Blue lines- support trend lines

XRP/USD is breaking above key short-term resistance levels that has been testing for the last 11 sessions. Recapturing $0.60 and staying above it is crucial if price is to move towards the major resistance area of $0.70-$0.80. As long as price is below this resistance level is still vulnerable to another move towards $0.40-$0.30. For now there is no sign that such a pull back is coming. For now price is slowly and steadily moving higher. Short-term support is at $0.54. Bulls do not want to see this level broken as this will imply more selling is coming most probably to push price towards the first blue trend line support at $0.47.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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