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XRPUSD Daily analysis

XRPUSD Daily analysis

Green line -medium-term resistance trend line

Red lines- Fibonacci retracements

XRPUSD is trading around $0.49. Price has broken above the medium-term downward sloping resistance trend line, pulled back as a back test and price is now bouncing higher after re-testing the broken trend line. Remaining above the green trend line is key for the short-term trend. Bulls need to continue to defend this trend line and the $0.4350 lows. As long as price is above this level we expect XRPUSD to continue higher and at least reach the 50% Fibonacci retracement at $0.60. Failure to hold above $0.43 can lead XRPUSD back towards $0.30.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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