XRPUSD is trading below but close to the key $0.52 resistance area. As we mentioned in previous posts, bulls need to form a weekly close above $0.52 and break above $0.55 on a daily basis, in order to produce a solid bullish signal. Thus far price has gotten rejected twice at the yellow rectangle resistance area. Price has formed a lower highs sequence and lower lows. Relative to the $0.40 low to $0.544 high, price is maybe forming a higher low. That is why it would be a great bullish signal if bulls managed to break above $0.52 on a weekly basis.
The material has been provided by InstaForex Company – www.instaforex.com
Yellow rectangle- resistance
XRPUSD is trading below but close to the key $0.52 resistance area. As we mentioned in previous posts, bulls need to form a weekly close above $0.52 and break above $0.55 on a daily basis, in order to produce a solid bullish signal. Thus far price has gotten rejected twice at the yellow rectangle resistance area. Price has formed a lower highs sequence and lower lows. Relative to the $0.40 low to $0.544 high, price is maybe forming a higher low. That is why it would be a great bullish signal if bulls managed to break above $0.52 on a weekly basis.
The material has been provided by InstaForex Company – www.instaforex.com
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