XRP/USD aftrer reaching as high as $0.5981 is now pulling back towards the upper triangle boundary at $0.48. Price is now trading at $0.51 and once again heavy selling pushed price from the $0.60 area back to $0.50.


Blue lines -triangle pattern

With the result of the SEC lawsuit against Ripple being one of the most anticipated events of the coming weeks, price shows signs of an upward break out. Technically breaking out and above the triangle pattern is a bullish sign and should eventually bring price towards $0.65-$0.75 major long-term resistance area. This week we see price pull back as a back test of the triangle breakout. Bulls want to see price touch the upper triangle boundary and bounce from that level. Bulls do not want to see price get back below $0.48. If this happens then we should be ready for a bigger pull back even towards $0.39.

The material has been provided by InstaForex Company – www.instaforex.com

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.