XRP/USD is trading once again near $0.60. Price briefly moved above $0.60 today and is now trading just below it. Short-term trend remains supported as any pull back has been met by strong buyers and price is starting to make higher highs and higher lows.


Yellow rectangle- resistance

Blue lines- support trend lines

XRP/USD is breaking above key short-term resistance levels that has been testing for the last 11 sessions. Recapturing $0.60 and staying above it is crucial if price is to move towards the major resistance area of $0.70-$0.80. As long as price is below this resistance level is still vulnerable to another move towards $0.40-$0.30. For now there is no sign that such a pull back is coming. For now price is slowly and steadily moving higher. Short-term support is at $0.54. Bulls do not want to see this level broken as this will imply more selling is coming most probably to push price towards the first blue trend line support at $0.47.

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

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