XRPUSD remains strong above broken key resistance of $1.24.


As we mentioned in previous posts, XRPUSD broke the important long-term resistance trend line and has produced a bullish signal. XRPUSD was trading below the $1.13-$1.24 resistance and now is above it.

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Orange lines- resistance trend lines

Blue line - support trend line

XRPUSD continues to respect the blue upward sloping support trend line and continues making higher highs and higher lows. As we mentioned before, a break above $1.24 would give us $1,45-$1.50 as our first target area. Now we find support at the blue trend line at $1.10-$1.15. If the atmosphere around cryptocurrencies remains bullish, then xrpusd might make new all time highs this year. Still too early to tell, but we remain bullish.




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Alexandros Yfantis
Analytical expert of InstaForex
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