Ripple continues to move sideways in the short term. It’s trading at 0.7021 at the time of writing and it remains undecided. The altcoin is somehow expected to extend the sideways movement as BTC/USD is moving sideways in the short term as well.
In the last 24 hours, the altcoin is down by 2.91% but it remains up by 0.35% in the last 7 days. It has changed little in the short term, that’s why we have to wait for fresh opportunities.
XRP/USD Sideways Movement!
As you can see on the H4 chart, the rate is trapped between the 0.7314 and 0.6673 levels. You knew from my previous analyses that escaping from the down channel may announce a new leg higher.
The 0.7314 former high represents a static resistance. On the other hand, 0.6673 represents a key downside obstacle. As long as it stays above it, the rate could extend its growth.
XRP/USD Outlook!
Jumping and stabilizing above 0.7314 could announce a larger growth and could bring new longs.
The material has been provided by InstaForex Company – www.instaforex.com
Ripple continues to move sideways in the short term. It’s trading at 0.7021 at the time of writing and it remains undecided. The altcoin is somehow expected to extend the sideways movement as BTC/USD is moving sideways in the short term as well.
In the last 24 hours, the altcoin is down by 2.91% but it remains up by 0.35% in the last 7 days. It has changed little in the short term, that’s why we have to wait for fresh opportunities.
XRP/USD Sideways Movement!
As you can see on the H4 chart, the rate is trapped between the 0.7314 and 0.6673 levels. You knew from my previous analyses that escaping from the down channel may announce a new leg higher.
The 0.7314 former high represents a static resistance. On the other hand, 0.6673 represents a key downside obstacle. As long as it stays above it, the rate could extend its growth.
XRP/USD Outlook!
Jumping and stabilizing above 0.7314 could announce a larger growth and could bring new longs.
The material has been provided by InstaForex Company – www.instaforex.com
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