XRP/USD has reversed its down trend from the 61.8% Fibonacci retracement at $0.85 and is now making higher highs and higher lows. Bulls seem in control of the short-term trend and there is potential for a bigger trend change if bulls continue to push price higher above $1.23 and $1.42.
XRPUSD has so far made a high at $1.0890 and is now pulling back. Price has so far tested the horizontal support zone as shown in the 4 hour chart above. So far price respects the support and we might see another leg higher. As long as price is above the support at $1-$0.98 we expect price to move higher towards $1.20. If support fails to hold, we should not be surprised if XRP/USD makes new lows below $0.85.