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04.03.202117:53 Forex Analysis & Reviews: XRP/USD could soon provide a strong bullish signal

XRP/USD is respecting so far short-term support and is now challenging important short-term resistance. Breaking above $0.46 will be a bullish sign that could push price much higher towards $0.52 area.

Exchange Rates 04.03.2021 analysis

Red rectangles - resistance levels

Upward sloping green line - support

Ripple is so far respecting the upward sloping support trend line. As long as price is above $0.44 the chances of breaking above $0.46 are high and our target is $0.52. Short-term we are bullish as price is forming higher highs and higher lows and a break out is imminent. Short-term stop for bullish positions is at the trend line support at $0.44.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Alexandros Yfantis,
Analytical expert
InstaForex Group © 2007-2021
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