Short-term XRPUSD analysis.

XRPUSD continues to trade below the key resistance area of $1.13-$1.24. Price made a sharp decline last Wednesday but prices bounced back up again. Price continues to respect the key support trend line but bulls are also unable to break above resistance.


Orange lines - resistance trend lines

Blue line- support trend line

XRPUSD continues to trade sideways. Price remains below the key resistance orange trend lines and as long as this is the case, XRPUSD will be vulnerable to a move below $1. XRPUSD will provide a bullish signal if price breaks above $1.24. Our target then will be at $1.45-$1.50 area at least. Until then traders need to remain cautious and patient.

The material has been provided by InstaForex Company -

from RobotFX
- Need a custom expert advisor?
- Try the Complex Trader EA.

Share this: