quyverlander

XRPUSD short term view (15m)

BITSTAMP:XRPUSD   XRP / U.S. Dollar
XRP formed a triangle pattern over the weekend which it fell through earlier today to find support around 1.206. Now trying to move back up I expect resistance to be found around 1.25, if this resistance holds, a move down to the 1.18 support seems inevitable, which if broken, could lead to a deeper pull-back to 1.09/1.10 levels. A break through 1.25 should send XRP up to the 1.30/1.32 level, which if broken would likely send price up to test the local high of 1.35. A break of 1.35 could send XRP on its way to test the long term 0.702 fib retracement level 1.53/1.55 (not visible on this chart).

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