? Ripple Breaks Key Line but Resistance Remains Strong ?

2 min read

Hi traders,

Ripple (XRP/USD) broke above a key resistance trend line (dotted purple) and is now challenging a key 21 ema zone which is now acting as resistance. The bullish breakout could indicate a reversal.

XRP/USD

Day


XRP/USD remains in a tough spot with plenty of horizontal resistance levels above it, even if it breaks above the 21 ema zone. But the breakout above the trend line could indicate a first hope for long-term bulls that price action will be trending up again. Price will need to break above the resistance lines with strong momentum before more upside becomes likely.
Bull flag patterns could indicate a likely continuation higher whereas any bear flag chart pattern, especially after strong bearish momentum, could indicate more downtrend.

Good trading,
Chris Svorcik
Elite CurrenSea

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