FX.co ★ XRPUSD challenges major short-term resistance.

XRPUSD has managed to break above $1.13 but price reached as high as $1.236 earlier today. In our previous posts we mentioned that important resistance is found between $1.13-$1.24. Bulls need to break above this area in order to call a break out and in order to get a bullish signal.

Blue line- support trend line

XRPUSD is now trading around $1.16.Short-term trend remains support as long as price is above the blue upward sloping support trend line. This support is at $1.04. Bulls do not want to see price break below this level. If this happens we should expect XRPUSD to fall further, towards $0.90-$0.80. Price is now just above the first orange resistance trend line. It got rejected at the second resistance trend line. If bulls can recapture $1.25, we should then expect XRPUSD to rise towards $1.50 and higher.