FX.co ★ Short-term analysis on XRPUSD.

Short-term analysis on XRPUSD.

XRPUSD continues to respect the key support area around $1. Price tested this support area yesterday once again. Support was held Price has bounced since then and is now challenging the important downward sloping resistance trend line at $1.05.

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Short-term analysis on XRPUSD.

Red line -resistance

Blue rectangle - support area

XRPUSD remains supported. As long as the blue support zone remains intact, bulls have hopes. On the other hand, in order to see a short-term trend reversal, bulls will need to break above the red downward sloping resistance trend line and stay above it. Next major resistance is at $1.13 and next at $1.25. Breaking above these levels will open the way for a move towards $1.50-$2. Until then, price is vulnerable to a downward break that could push it close to $0.80.

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