FX.co ★ XRP gives its first signs of strength

XRP has broken out of the short-term bearish channel and is now challenging once again the major short-term resistance area of $1.06. As long as price is below this level there is still danger of moving lower towards $0.65.

Blue lines- Fibonacci retracements

Red rectangle- resistance

XRP/USD has reversed at the 61.8% Fibonacci retracement and bulls are now trying to break above key short-term resistance depicted by the red rectangle area. Breaking above $1.06 will open the way for a push higher towards $1.20 at first and maybe towards $1.45. Support at $0.78 is key. Breaking below it will open the way for a move towards $0.65.