XRPUSD continues to trade above the $1 short-term support level and below the key resistance area of $1.15-$1.24. Price has made no real progress the last few days and traders need to remain patient.
Blue line- support trend line
Red rectangles- lower highs
XRPUSD is forming lower highs (red rectangles) as price touches the resistance trend lines. This is not a good sign. On the other hand price continues to respect the blue support trend line. This is crucial for bulls. Things are simple with XRPUSD. Break above $1.15-$1.24 and price will continue higher at least towards $1.40-$1.50. Break below $1 and price will be vulnerable to a move towards $0.85.
The material has been provided by InstaForex Company - www.instaforex.com