FX.co ★ Next target for XRPUSD.

XRPUSD is making higher highs and higher lows. As we showed in our previous analysis, price is inside an upward sloping channel and we are currently retracing the entire decline. So far price has captured more than 50% of the decline from 1.3477.

Black lines - Fibonacci retracements

XRPUSD next target is at the 61.8% Fibonacci retracement at $1.06. Breaking above this level and staying above it, will be critical for the medium-term trend. Bulls want to break above it and stay above it in order to continue higher towards $1.45-$1.70. Short-term support is found at $0.95 and next at $0,91. XRP bulls seem to be preparing a strong Christmas rally. There is potential for a strong move higher above $1.30-$1.40 as long as price holds above $0.82.