XRPUSD Still Bullish

Technical analysis


The XRPUSD pair continues to enjoy strong dip-buying demand and is testing back towards its trend defining key 200-day moving average. The MACD indicator on the daily time frame still shows that XRPUSD has significant upside potential, and a bullish breakout from a falling wedge pattern is underway.


What the possible outcomes are


In our most likely scenario, the XRPUSD pair will start to rally towards the $1.0500 level after breaking above its key 200-day moving average.


Alternatively, XRPUSD consolidates around its key 200-day moving average, and then correct one final time back towards the 0.6800 support level.


Key levels

Support 0.7100 0.6800

Resistance 0.9000 1.0500



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