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 - www.instaforex.com