FX.co ★ Technical analysis on XRPUSD for September 26th, 2023.

Red line- major resistance trend line

Blue line- support trend line

XRPUSD is trading around $0.50 having so far formed two higher lows at $0.42 and at $0.45. Price is mostly moving sideways over the last few weeks, still below the major red trend line resistance. As long as price is below this resistance, there is no talk about a new upward wave. Technically price has support at $0.47. Bulls do not want to see a daily close below this level. A break below this level will open the way for a deeper decline towards 2022 lows. Short-term resistance is found at $0.5250. A break above this level could provide fuel for a bigger bounce towards $0.62 or $0.74.