Red rectangle- resistance
Green rectangle- support
XRPUSD is under pressure today. Price has made a low around $0.4213 and a high at $0.4678, while now it is trading around $0.4474. Price today tested again the support area at $0.42 and so far bulls have managed to defend it. Holding above this support area is crucial for the short-term trend at least. This is the third time price bounces off the support zone. It is important to see the size of the coming bounce. A short lived bounce with a lower high relative to $0.5074 high would be a sign of weakness. Bulls want to start a new upward sequence with higher highs and higher lows. A break below the green support area would be a bearish signal.
