FX.co ★ XRPUSD differentiates from the rest major cryptocurrencies, but bulls need more signs of strength.

While the two major cryptocurrencies Bitcoin and Ethereum slide to lower lows, XRPUSD broke out of the short-term bearish channel and above the $0,85 resistance. Earlier today XRPUSD rose to $0.91, however bulls are not strong enough to hold price at these levels. XRPUSD has returned to $0.83-$0.84.

XRPUSD daily candlestick has a long upper tail. This kind of candlesticks are usually bearish signs. Inability to hold the upside momentum after a breakout, is usually a sign of a fake break out. XRPUSD bulls need to recapture at least the $0.85 level and stay above it. Failure to stay above $0.81 will be a bearish sign and XRPUSD will be expected to push to recent lows of $0.75.