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22.07.202115:51 Forex Analysis & Reviews: XRP approaches short-term resistance.

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In our last analysis we noted the bearish short-term channel XRPUSD is currently in. Trend remains to be bearish despite the recent bounce. Price continues to trade inside the bearish channel.

Red lines - bearish channel

XRPUSD is approaching the upper channel boundary resistance at $0.59-$0.60. This is an important short-term resistance level. Price remains in a bearish trend. Breaking above and out of the channel will be the first important bullish signal. However trend would only change if price were to break above $0.72.

Alexandros Yfantis
Analytical expert of InstaForex
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