empty
 
 
25.11.2021 02:50 PM
Short-term analysis on XRPUSD.

XRPUSD continues to respect the key support area around $1. Price tested this support area yesterday once again. Support was held Price has bounced since then and is now challenging the important downward sloping resistance trend line at $1.05.

This image is no longer relevant

Red line -resistance

Blue rectangle - support area

XRPUSD remains supported. As long as the blue support zone remains intact, bulls have hopes. On the other hand, in order to see a short-term trend reversal, bulls will need to break above the red downward sloping resistance trend line and stay above it. Next major resistance is at $1.13 and next at $1.25. Breaking above these levels will open the way for a move towards $1.50-$2. Until then, price is vulnerable to a downward break that could push it close to $0.80.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback