Analysis Cryptos Support & Resistance

XRPUSD holders wait patiently for the result of the lawsuit by the SEC.

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Red line – major resistance

green rectangle- support area

XRPUSD remains under pressure in a bearish medium-term trend. Price is trading around $0.34 above the key horizontal support of $0.28-$0.30. Price has made no real progress over the last few months. Bulls unsuccessfully tried to push price above key resistance trend line, but failed. As long as price is below the red trend line, bears are in control. A break above the red trend line would be a very important bullish reversal signal. A positive result of the lawsuit could be the fuel for such a major reversal. Failure to hold above the green rectangle support area would be a bearish signal that could lead to a 50% decline in price.

The material has been provided by InstaForex Company –