XRP/USD still vulnerable to a move towards $1. Bulls need to recapture $1.56.

XRP/USD is bouncing off the 61.8% Fibonacci retracement of the $0.88-$1.76 recent rise. Price is still below key resistance levels and still vulnerable to a move lower. Critical support is found at $1.20. Price tested this level several times this last few days and all of the times bulls managed to defend it. Breaking below it will open the way towards $1 or even lower.

Red line – resistance

XRP is still below the red resistance trend line ($1.47) and below the latest high of $1.54. As long as price is below these two levels price will be vulnerable to another move lower. Support is at $1.20. If resistance is broken then bulls will have hopes of challenging $1.76 and starting a move with a target above $2. Until then bulls need to do a lot of work. Bears remain in control of the short-term trend.

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

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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