empty
 
 
21.12.2021 05:54 PM
XRPUSD bullish signal.

XRPUSD has broken out of the bearish channel and has surpassed the first resistance level of $0.85. Price after reaching $0.91 has pulled back towards $0.82 as a back test of the break out of the channel. Now price is testing recent highs with increased probabilities of breaking to new higher highs.

This image is no longer relevant

Red lines- bearish channel

XRPUSD has support at $0.82 and next resistance at recent high of $0.91. Breaking to new higher highs will most probably lead price towards $0.9733 where we find the 50% Fibonacci retracement of the entire decline from $1.34 to $0.60. This could be the start of a major upward move, however it is still too early to call a major low is in. For this to happen, bulls will need to recapture $1.35.

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 $9000 more!
    In May we raffle $9000 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