Looking at the XRPUSD chart we may spot a potential flag pattern. It could be usually a trend continuation structure with possible support at the line drawn through the bottoms. What is more, to the price also has stopped at the 38,2% of the Fibonacci retracement.
If the mentioned support levels are not broken we may expect another rally after the breakout of the upper limit within a flag pattern. The next possible resistance may be located at 0,3265 USD.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
If the mentioned support levels are not broken we may expect another rally after the breakout of the upper limit within a flag pattern. The next possible resistance may be located at 0,3265 USD.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
