empty
 
 
10.02.2021 12:58 PM
Ripple to continue trading upwards

As expected, XRP/USD traded sideways. In particular, around 0.4532 - 0.4769. But after that, Ripple broke through the upper border, climbing towards 0.5110, which was the high last January 30 (red dotted line).

According to analyses, if the price jumps higher, XRP/USD could reach 0.5564. There, the cryptocurrency could either undergo a breakout or a rebound downwards.

But at the time of writing, Ripple is trading at a rather strong resistance level, in which if the quote fails to break above it, price can turn downwards. Of course, this scenario is very unlikely, but there is a chance that it could happen.

This image is no longer relevant

Ekaterina Kiseleva,
Analytical expert of InstaForex
© 2007-2024
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 $5000 more!
    In November we raffle $5000 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