empty
 
 
02.11.2022 10:43 PM
Short-term technical analysis on XRPUSD.

This image is no longer relevant

Red rectangle- resistance

Green rectangle- support

XRPUSD is trading around $0.44. Price is under pressure and is vulnerable to a move towards the horizontal support area of $0.42-$0.43. As long as price is above this level, bulls have hopes for another move higher towards $0.54. The $0.42-$0.43 support zone has already been tested twice. After the second failed attempt to break below it, price bounced towards $0.48 and formed a lower high thus far. If this formation is combined with a break below the support area, we will get a new strong bearish signal that will imply more downside should be expected for XRPUSD. Our first most probable target would be at $0.38.

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