XRP/USD is in a bearish trend. As we explained in several past posts, a break above the key short-term resistance will open the way for a sharp move higher towards $1.20 and $1.45. Even if price breaks above the short-term resistance and reaches this two targets, price would still be under or inside the cloud, but not above it. This means that for the ichimoku cloud indicator to turn bullish in XRP/USD, price must push above the cloud resistance at $1.45.
Price in the Daily chart is below the Kumo (cloud). This is bearish. Price is above the tenkan-sen (Red line indicator) and this gives hopes to bulls for a bounce at least towards thekijun-sen (yellow line indicator) at $1.1750. At $1.1750-$1.20 we also find the lower cloud boundary resistance. Breaking inside the cloud would be a step closer in changing the Daily trend according to the Ichimoku indicator. Failure to hold above $0.94-$0.93 will be a bearish sign and could lead to new lows towards $0.65.
