Red line - major resistance trend line
Blue lines- trading range (broken)
Earlier this week we warned traders of the bullish signal we got once XRPUSD broke out of the trading range it was in over the last few months, With price breaking above the upper range boundary at $0.39, we noted that our first target would be around $0.46 where we find the important downward sloping red resistance trend line. Today the weekly candle is above the red resistance trend line coming from its all time highs. A weekly break out above it would be an important win for XRP bulls. Next major resistance is at $0.91. A break above this level will confirm the end of the downtrend and the start of a new up trend. Too soon to talk about such a major reversal. Until $0.91, we see $0.67 as important short-term resistance and $0.78. Support remains key at $0.33.
