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Crypto-currencies

09.05.202217:47 Forex Analysis & Reviews: XRPUSD at major support.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

XRPUSD is trading just above $0.50 where we find the long-tern support trend line. We warned traders a few weeks ago when price was giving us a reversal signal. Trend remains neutral in the long-term as price continues to trade inside the triangle pattern.

Exchange Rates 09.05.2022 analysis

Green line- horizontal support

Red line- resistance

Purple lines - expected path

XRPUSD is testing the major support of $0.50. Last time price was at current levels, it produced a bullish signal and price rose towards $0.91. Will we see another bounce higher from current levels? XRPUSD has the potential to rise towards the red resistance trend line at $0.80 as long as price is above the green line.

Alexandros Yfantis
Analytical expert of InstaForex
© 2007-2025

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