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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