Main Quotes Calendar Forum
flag

FX.co ★ XRPUSD Daily analysis

parent
Crypto Analysis:::2022-10-06T15:47:16

XRPUSD Daily analysis

XRPUSD Daily analysis

Green line -medium-term resistance trend line

Red lines- Fibonacci retracements

XRPUSD is trading around $0.49. Price has broken above the medium-term downward sloping resistance trend line, pulled back as a back test and price is now bouncing higher after re-testing the broken trend line. Remaining above the green trend line is key for the short-term trend. Bulls need to continue to defend this trend line and the $0.4350 lows. As long as price is above this level we expect XRPUSD to continue higher and at least reach the 50% Fibonacci retracement at $0.60. Failure to hold above $0.43 can lead XRPUSD back towards $0.30.

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...