FX.co ★ XRPUSD approaches our target.

As we mentioned in previous posts, XRPUSD has broken upwards the bullish flag pattern and has provided us with a bullish signal. Price is moving higher and is approaching our target of $0.9450.

Red lines -bullish flag pattern

Blue lines - Fibonacci extension targets

XRPUSD is making higher highs and higher lows. Price has now support at $0.69 and as long as price is above this level, we expect price to continue higher. Our first target is at $0.9450 and the second target at $1.10. Staying above $0.65-$0.75 area is key for the longer-term trend. So far XRPUSD has made a strong upward move to nearly $2 and has pulled back forming a higher low. The reversal from that low could be the start of a new up trend that will eventually bring price to new all time highs.