Tuesday, March 28, 2023
Black line -resistance (broken)
Red line- horizontal resistance (broken)
Green rectangle- major support zone
XRPUSD is trading around $0.50 having broken the recent higher. Price is in a short-term bullish trend making higher highs and higher lows. Price recently broke above the horizontal resistance of $0.43, came back to test it as support and is now bouncing higher. Price action is bullish. The $0.43 level is now key support and bulls do not want to see price break below recent lows. Price has potential to continue higher towards $057 at least if not higher. Thus far we have not seen any bearish RSI divergence in the daily chart. Bulls are in control of the trend.
The material has been provided by InstaForex Company - www.instaforex.comfrom Forex analysis review https://www.instaforex.com/forex_analysis/317824/?x=CXNL
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