empty
 
 
11.04.2021 11:26 AM
What is next for Ripple's XRP?

XRP/USD has provided us a bullish signal after breaking the resistance of $1.06. This was noted in ourlast analysis with the cup and handle bullish pattern it had formed. Our target was $1.28-$1.33 and it has already been achieved and surpassed.

This image is no longer relevant

Blue line - major resistance

Red lines - Fibonacci targets

Pink line - support

As we mentioned last week, breaking on a weekly basis above $0.60-$0.80 resistance was big news. The upside explosion it followed has pushed prices to three year highs levels and we already have broken above the 161.8% Fibonacci target. Our next target is close to $2 and more specifically at $1.97. Upside potential remains huge in XRP/USD and looks like it is trying to cover for lost ground relative to the other cryptocurrencies. So far in the daily and intraday charts there is no sign of a reversal or of an important top.

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