XRPUSD is trading around $0.46. Price recently made a low at $0.4470 area above the key upward sloping support trend line. Price remains above the key support trend line coming from $0.29 and the December lows. Staying above the red upward sloping support trend line is key for the medium-term trend. Recent attempts to break above $0.52-$0.55 have failed. The rejections at the yellow rectangle resistance area confirm the importance of that resistance level. Bulls need to break above it in order to hope for a move towards $0.80-$1.
The material has been provided by InstaForex Company – www.instaforex.com
Yellow rectangle- resistance
Red line -support trend line
XRPUSD is trading around $0.46. Price recently made a low at $0.4470 area above the key upward sloping support trend line. Price remains above the key support trend line coming from $0.29 and the December lows. Staying above the red upward sloping support trend line is key for the medium-term trend. Recent attempts to break above $0.52-$0.55 have failed. The rejections at the yellow rectangle resistance area confirm the importance of that resistance level. Bulls need to break above it in order to hope for a move towards $0.80-$1.
The material has been provided by InstaForex Company – www.instaforex.com
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