empty
 
 
08.03.2021 10:19 PM
Ripple breaks short-term resistance

Ripple bulls have managed to recapture the $0.46 resistance level. Price continues to respect short-term support at $0.43 while bulls push price higher. Breaking above this resistance gives us target around $0.51 as we explained in previous posts. However the bigger picture remains unclear as XRPUSD is still vulnerable to a move lower as long as price is below $0.64-$0.75.

This image is no longer relevant

Red rectangle -short-term resistance

Red line - short-term support

Blue line -longer-term support

XRP/USD shows potential for another test of the double top resistance area of $0.64-$0.75. Price needs to hold above the blue support trend line otherwise we should expect a deep plunge towards the lows below $0.20. So far price actions seems constructive and we should expect more upside this week as price remains above $0.46.

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 $8000 more!
    In March we raffle $8000 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