Ripple's XRP: Breakout confirmation needed
|- XRP crosses past key long term trendline resistance.
- Some levels need to be crossed for bulls to cheer.
Ripple's XRP, the crypto whose parent aims to revolutionise cross broder payments solutions, has crossed past a key trendline resistance on the long term chart, which needs a confirmation by way of crossing past certain levels for the bulls to be able to gain upper hand.
XRP/USD is up 1.7 percent on day at $0.3150 after hitting a high of $0.320, while day's range has been more than 3 percent so far. On the 12-hour chart of this coin, bulls managed to gather enough strength to cross past a major descending trendline resistance - a first and important sign of a breakout.
However, sustaining past the high of the day - $0.3203 and $0.327 is critical for the bulls to gain upper hand in this Northward journey which has just begun and may have some more legs, provided these mentioned levels are crossed and sustained.
XRP/USD 12-hour chart:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.