XRPUSD rejected at resistance.

XRPUSD yesterday closed right on the lower resistance level ahead and today is showing rejection signs. Price has made no real progress over the last few days and price remains above the key support of $1 and below the key resistance of $1.15-$1.25.

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Orange lines - resistance trend lines

Blue line - support trend line

As long as price is above the blue upward sloping trend line, bulls will have hopes for a move towards $1.50 and higher. Breaking above the orange resistance trend lines will provide bulls the much anticipated bullish signal. If the blue support trend line fails to hold, we will get a bearish signal. Until then trend is neutral in the short-term and traders need to be patient.




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Alexandros Yfantis
Analytical expert of InstaForex
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