XRPUSD is trading around $0.46. This was a bad week for bulls as price was initially trading above $0.55 resistance. A rejection at the major horizontal resistance followed and price is now even below $0.50. Recent price action confirms the importance of the $0.52-$0.55 resistance level. We mentioned several times that bulls need to see a weekly close at least above $0.52. XRPUSD is vulnerable to a move towards $0.40 if not lower.
The material has been provided by InstaForex Company – www.instaforex.com
Yellow rectangle- resistance
XRPUSD is trading around $0.46. This was a bad week for bulls as price was initially trading above $0.55 resistance. A rejection at the major horizontal resistance followed and price is now even below $0.50. Recent price action confirms the importance of the $0.52-$0.55 resistance level. We mentioned several times that bulls need to see a weekly close at least above $0.52. XRPUSD is vulnerable to a move towards $0.40 if not lower.
The material has been provided by InstaForex Company – www.instaforex.com
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