At the end of last week XRPUSD broke out of its short-term trading range. Price broke above the upper range resistance boundary at $0.65 providing a bullish signal. This week has started very strong for XRPUSD with price reaching as high as $0.91.
Green line- support
Blue lines -short-term trading range
XRPUSD is bouncing strongly higher towards the red trend line resistance. This resistance is now at $1.08. Price reached very close to the key horizontal support at $0.50. The support was defended and bulls have stepped in to push price higher. A longer-term bullish scenario would make us see price break the red trend line resistance. On the other hand bears will want to see a price rejection at the trendline. Nothing is clear for the longer-term trend as long as price is inside the triangle pattern.
