Yellow rectangle- major resistance
Blue line- support trend line
XRPUSD is trading around $0.46. Price continues to test the blue upward sloping support trend line. Price continues to respect the support trend line giving hopes to bulls for another test of the major horizontal resistance area around $0.52-$0.55. So far XRPUSD failed to break above the yellow rectangle resistance area. Recent price action confirmed the importance of the resistance around $0.52-$0.55. Bulls need a weekly close above $0.52 at least. A daily close above $0.55 would also be a positive sign and would provide a bullish signal. In the near term the chances of another move towards the resistance area have increased as price remains support making higher lows.
