FX.co ★ Technical analysis on XRPUSD for April 11th, 2023.

Red line- major horizontal resistance

Blue rectangle- support area

XRPUSD is trading above $0.50 once again and has started forming higher highs and higher lows. Price made a pull back towards $0.48 after the rejection at the major horizontal resistance of $0.55. It is very important for the long-term trend for bulls to recapture and stay above $0.55. This will open the way for a bigger move higher maybe towards $0.90-$1. Recent price action suggests there is bullish momentum and price can be challenging the $0.55 soon. Support at $0.48 is key. Bulls need to defend this level. A break below $0.48 will open the way for a bigger pull back probably towards the previous major support at $0.43