Minor trend line resistance $2.12.
XRPUSD breaks minor trend line resistance after a long consolidation. It hit an intraday high of $2.2509 and is currently trading around $2.224. A daily close below $1.60 could signal a further minor bearish trend. XRP remains above both short-term (34 EMA and 55 EMA) and long-term moving averages (200-day EMA) on the 4-hour chart confirms bullish trend.
Resistance and Support Analysis
The immediate resistance level for XRP is around $2.25, and a breakout above this level will push prices higher to $2.60/$2.80/$3/$3.40/$4. Any breach above $4 confirms further bullishness, a jump to $5. On the downside, immediate support lies at $1.89 any break below targets $1.60, $1.27, $1.00, $0.85, and $0.74.
CCI(50)- Bullish
Directional Movement Index - Bullish
Trading Strategy Recommendation
It is good to buy on dips around $2.20 with SL around $1.80 with SL around $3/$3.35.
XRPUSD breaks minor trend line resistance after a long consolidation. It hit an intraday high of $2.2509 and is currently trading around $2.224. A daily close below $1.60 could signal a further minor bearish trend. XRP remains above both short-term (34 EMA and 55 EMA) and long-term moving averages (200-day EMA) on the 4-hour chart confirms bullish trend.
Resistance and Support Analysis
The immediate resistance level for XRP is around $2.25, and a breakout above this level will push prices higher to $2.60/$2.80/$3/$3.40/$4. Any breach above $4 confirms further bullishness, a jump to $5. On the downside, immediate support lies at $1.89 any break below targets $1.60, $1.27, $1.00, $0.85, and $0.74.
CCI(50)- Bullish
Directional Movement Index - Bullish
Trading Strategy Recommendation
It is good to buy on dips around $2.20 with SL around $1.80 with SL around $3/$3.35.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.