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XRPUSD continues to trade below short-term resistance.

XRPUSD continues to trade around $1.06. Price remains above the key support at $1 that was recently tested. Price also shows inability from bulls to break above the $1.09-$1.12 resistance level in order to proceed higher towards $1.23.

analytics615f218f832df.jpg

Red line - resistance
Blue line- support area

XRPUSD continues making higher highs and higher lows. Price is stalling below $1.10-$1.12 horizontal resistance level. Breaking above this resistance will be a bullish signal and will give us $1.23 as the next target. Support remains key at $1-$0.98. Bulls need to defend this, otherwise failure to stay above it, will be a bearish signal and could push price back to $0.85 and even lower.

The material has been provided by InstaForex Company - www.instaforex.com