XRP/USDT Update
XRP/USD -Analysis: Last week, we were anticipating the breakout out of the symmetrical triangle, which got negated with the price failing to close above descending resistance on the daily. But not is all lost as with have a lot of daily confluence located at $0.7 and $0.75. Firstly this was a previous region of significant resistance which should now act as solid support. Drawing a fib from the low in December to the high in April, we have the 0.618 gold retracement level located at 0.73. We also have the extra confluence of ascending support and the 200 daily moving average situated near this region. Put very simple; I am expecting to see price action develop around this region. Failure to hold this region would be bearish for the price, and lower prices could be expected.
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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.