empty
 
 
23.07.2021 07:27 PM
Ripple Buying Opportunity In Cards!

Ripple dropped in the last hours after reaching strong static resistance. It's trading in the red at the 0.5770 level pressuring the broken downtrend line. The cryptocurrency has slipped lower as the price of Bitcoin has found temporary resistance as well.

BTC/USD's further growth could help the price of Ripple to resume its rebound as well. Ripple has shown strong bullish signs, but we still need confirmation before going long.

XRP/USD Validates Its Breakout!

This image is no longer relevant

Ripple rebounded after failing to reach 0.5096 static support. It has managed to jump above the immediate downtrend line. Now it has decreased to retest it. Staying above this broken dynamic resistance and making a valid breakout above the weekly pivot point (0.6020) brings a great buying opportunity.

Failing to stay above the broken line leads to a new drop towards the S1 (0.5465) and down to the lower median line (lml).

Outlook!

A bullish closure above 0.6092 today's high could signal further growth at least until the ascending pitchfork's median line (ml).

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback