As seen in the chart, XRP has broken short term resistance level of about $0.2086 USD. That was a resistance that held for about two weeks, and now we had finally broken it.
The next resistance would be the 200-day moving average, red line, which we are currently testing right now.
After that, the $0.2362 USD level. And after that, the big mayor resistance of about $0.348 USD, the February highs.
MACD has been ticking higher over the last two days, giving a small buy signal.
In terms of Elliott Wave, we had a 5-wave move, follow by a 3-wave move. And now what I will be expecting is another 5-wave move to the upside.
All and all, looks great, will see what happens.
I want to thank one of my followers for pointing out yesterday that we broke the $0.2080 USD resistance level.
Here is his analysis:
Go comment on his analysis as he is trying to learn.
Good Luck to You
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We broke short term resistance of $0.2086 USD twice, but go rejected at the 200-day moving average resistance twice, before falling back down.
A lot of fakeouts in this market, also in Bitcoin, a false breakout of the 10K level yesterday. It is kind of though.
Mayor support lies in the $0.18 USD, and the next important resistance now is the 200-day moving average. Will see which one we brake first.