The price of XRPUSD has broken above the golden trend line and now is trading around the level of 1.078 after making a high of 1.2296. The only problem so far is, that the breakout is only in three waves and we need five of them to count it as a valid, impulsive breakout.
The key support level is at 0.8250. Any violation of this level would indicate a further deterioration towards the level of 0.5686.
There are two main areas of a resistnace: one between the levels of 1.57-1.76 and the second one between 2.11-2.26. In a case of a rally higher those two zones should be tested relatively quickly.
The key support level is at 0.8250. Any violation of this level would indicate a further deterioration towards the level of 0.5686.
There are two main areas of a resistnace: one between the levels of 1.57-1.76 and the second one between 2.11-2.26. In a case of a rally higher those two zones should be tested relatively quickly.
