Red rectangle- resistance
Green rectangle- support
XRPUSD recently retested the support area around $0.4150-$0.43. Price respected support and bounced higher towards $0.47. A lower high has been formed and price is again under pressure towards $0.44. Failure to hold above the green support area will be a bearish signal and will put added pressure on price. This can lead to a deeper decline towards $0.38 to $0.36. On the other hand key resistance is at $0.53 and only a break above it will clear any fears of another pull back.
The material has been provided by InstaForex Company – www.instaforex.com