XRP/USD bounced back at its 500 EMA and headed towards 0.350; critical support at 0.340
|XRP/USD bounced back at its 500 EMA and headed towards 0.350; critical support at 0.340
What's going on with XRP/USD?
XRP/USD Broke out at its 500EMA at 0.315 on the 18 of November 2018 and advanced to 0.365; however, it has failed twice and pulled back to its 500 EMA. The recent attempt to head backup has pierced through 0.340 resistance and is currently trading at 0.346.
Our forecast
XRP/USD: The pair has crossed the resistance trendline highlighted on the intraday charts below and also 0.340 resistance which is now the current support. XRP needs to hold above 0.340 support to continue to its next target at 0.350. The pair also needs to remain above 0.340 to avoid falling to 0.330 and 0.325
Support: 0.340, 0.330, 0.325, and 0.315
Resistance: 0.350, 0.360, 0.365, and 0.375
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Chart 1: The short-term view of the XRP/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points.
Chart 2: The short-term view of the XRP/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points
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