logo

FX.co ★ Short-term technical analysis on XRPUSD.

Short-term technical analysis on XRPUSD.

Short-term technical analysis on XRPUSD.

Red rectangle- resistance

Green rectangle- support

XRPUSD is trading around $0.44. Price is under pressure and is vulnerable to a move towards the horizontal support area of $0.42-$0.43. As long as price is above this level, bulls have hopes for another move higher towards $0.54. The $0.42-$0.43 support zone has already been tested twice. After the second failed attempt to break below it, price bounced towards $0.48 and formed a lower high thus far. If this formation is combined with a break below the support area, we will get a new strong bearish signal that will imply more downside should be expected for XRPUSD. Our first most probable target would be at $0.38.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Go to this author's articles Open trading account