CryptoComes

XRP/USD Neutral. What's Next???

The currency pair added nearly one percent in the past 24 hours. The volatility is low and there are no drivers currently to affect the price significantly. However, the price is above two descending trend lines (midterm and short term) meaning chances for the price to rise are higher.
Ripple has reached the resistance area at $0.6216, which coincides with 1.618 retracement level. There were several tests, but bulls were unable to cross this line. The price jumped off $0.6216 again and moves towards the closest support area at $0.5914 in the moment of writing. What are the possible ways for ETH/USD?
1. Red scenario (bearish). Ripple will reach the closest support area at $0.5914 and cross it targeting the next support at 2.618 retracement level.
2. Orange scenario (neutral). The currency pair will jump off the closest support area at $0.5914 and mover higher towards 1.618 retracement level, which coincides with $0.6216 resistance area. There, the price will reverse again to run lower (meaning flat channel trading).
3. Green scenario (bullish). The currency pair will reach the closest support area at $0.5914 (or start from the current levels) and then will reverse upwards targeting $0.6216 and the next resistance area at $0.6515.

Check the full crypto analysis HERE>>>.

All trading ideas every day on CryptoComes: u.today/pricewise

Everything about blockchain and crypto, Live 24/7 on CryptoComes: u.today/pricewise

Follow me and trade smarter with our insides!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.