empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

26.03.202110:16 Forex Analysis & Reviews: Ripple Confirms Its Bullish Breakout!

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Ripple is trading in the green at 0.53700 and it tries to get back higher after registering a minor retreat, correction. It has decreased a little to retest the immediate support levels before resuming its growth.

Technically, the crypto is still expected to increase after escaping from a symmetrical triangle and after registering a new higher high. Bitcoin decreased a little in the short term as well, a minor decline registered by Ripple, Ethereum, Litecoin, etc, was natural.

XRP/USD Upside Expected!

Exchange Rates 26.03.2021 analysis

As you can see on the H4 chart, Ripple decreased to retest the triangle's upside line, the Pivot Point (0.4964), and the 0.5 psychological level after its failure to stabilize above the R1 (0.5700).

Jumping and closing above 0.57 could confirm a further growth towards 0.7 psychological level or higher. XRP/USD's failure to reach and retest the S1 (0.4433) signal an increase at least until the R1 (0.5700).

Ripple Outlook & Tips!

Buy Ripple if it jumps and stabilizes above 0.57 level. A new higher high indicates more gains. 0.7 and 0.7574 represent upside targets.

Technically, XRP/USD is expected to increase after escaping from the descending pitchfork's body and from the symmetrical triangle.

Ralph Shedler
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade



You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off