Denis Joeli Fatiaki
Independent Analyst
XRP/USD surged by 10% from 0.340 to 0.374 in this morning's trades
What's going on with XRP/USD?
XRP/USD held on above 0.340 support as highlighted in yesterday's update and pushed prices through to its first estimated price target at 0.350; however, the pair failed to continue to its second target at 0.360 and pulled back to 0.340 support line as indicated in yesterdays update.
Our forecast
XRP/USD managed to rebound at 0.340 support in this mornings trading session and has taken out three estimated targets at 0.350, 0.360, and 0.368. The pair currently trades at 0.368 and needs remain above 0.368 resistance to continue to its next target at 0.375. The pair could pull back to 0.360 and 0.350 if it fails to continue at 0.368
Support: 0.368, 0.360, 0.350, and 0.345
Resistance: 0.375, 0.390, and 0.405
We explain the market movements and its potential next move to help and guide you to possibly make the right decision on when to enter, apply to stop losses to protect your capital, take profit and exit your position.
Our trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/joinchat/AAAAAFBM7dEWfBHez8KNJA
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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