XRPUSD remains under pressure after the break of the support at $0.5150.
October 12, 2023 12:22 pm
Green line – support trend line (broken)
Black line- horizontal support
Red line- major resistance trend line
XRPUSD is trading around $0.47. This is the sixth straight day that price is negative territory. XRPUSD is still under pressure after break below the green support trend line. Price as expected is approaching the horizontal support area of $0.46. XRPUSD is approaching the price levels it was in back in July, before the judge’s ruling that pushed price towards $0.9355. As long as XRPUSD is trading below $0.55, XRPUSD will remain vulnerable to a move lower.
The material has been provided by InstaForex Company – www.instaforex.com
Green line – support trend line (broken)
Black line- horizontal support
Red line- major resistance trend line
XRPUSD is trading around $0.47. This is the sixth straight day that price is negative territory. XRPUSD is still under pressure after break below the green support trend line. Price as expected is approaching the horizontal support area of $0.46. XRPUSD is approaching the price levels it was in back in July, before the judge’s ruling that pushed price towards $0.9355. As long as XRPUSD is trading below $0.55, XRPUSD will remain vulnerable to a move lower.
The material has been provided by InstaForex Company – www.instaforex.com
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