FX.co ★ XRP approaches short-term resistance.

In our last analysis we noted the bearish short-term channel XRPUSD is currently in. Trend remains to be bearish despite the recent bounce. Price continues to trade inside the bearish channel.

XRPUSD is approaching the upper channel boundary resistance at $0.59-$0.60. This is an important short-term resistance level. Price remains in a bearish trend. Breaking above and out of the channel will be the first important bullish signal. However trend would only change if price were to break above $0.72.