XRPUSD Medium-term Trend: Bullish
Supply Levels: $0.80, $0.75, $0.70
Demand levels: $0.50, $0.55, $0.60
The XRPUSD pair is currently in a bullish market, trading at $0.68. The resistance at $0.70 was tested on many occasions by the bulls. The price stopped at the resistance level, which makes it a strong to breach. However, when the level is finally broken, the breakout will be very powerful. This usually leads to profits on your open trades.
Meanwhile, the RSI period 14 is level 78, which indicates that the market is overbought, suggesting bears will take control of the market. The market can rally even at the overbought market conditions. If the bulls break the resistance at $0.70,the price will reach another high of $0.80, or $1.00.
XRPUSD Short-term Trend: Bullish
In the daily chart, the price was ranging at $0.67 before it fell to $0.65. At $0.65 it started a series of higher highs and higher lows up to the $0.68 level. Traders should look for buy setups, as the market is making a series of higher highs and higher lows. If the price retraces from the recent high, a support level will be created to enable traders to place long trades.
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