XRPUSD managed to reach very close to $0.55 but bulls remain unable to break above the key resistance that we mentioned in previous posts. It is important for bulls to see at least a weekly close above $0.52, in order to hope for higher levels. Price got rejected once again at the yellow rectangle resistance area. Price is now trading around $050 and as long as trade below the resistance area, XRPUSD is vulnerable to a move lower. Key support is at $0.40. Above $0.55 bulls should expect price to continue higher towards $0.80. Until then price remains vulnerable.
The material has been provided by InstaForex Company – www.instaforex.com
Yellow rectangle- key resistance area
XRPUSD managed to reach very close to $0.55 but bulls remain unable to break above the key resistance that we mentioned in previous posts. It is important for bulls to see at least a weekly close above $0.52, in order to hope for higher levels. Price got rejected once again at the yellow rectangle resistance area. Price is now trading around $050 and as long as trade below the resistance area, XRPUSD is vulnerable to a move lower. Key support is at $0.40. Above $0.55 bulls should expect price to continue higher towards $0.80. Until then price remains vulnerable.
The material has been provided by InstaForex Company – www.instaforex.com
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