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12.02.202103:58 Forex Analysis & Reviews: Ripple: slowly on the wall but still up

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.

XRP USD quotes are continually strengthening smoothly, moving with low volatility along the support line of the ascending channel of 0.3883 - 0.4469 - 0.4645 from February 7 (marked with dotted lines).

Theoretically, XRPUSD has a growth potential to its resistance within the upward trend. The price guide will be the resistance level of 0.5556. However, yesterday's high is on the way. It will be the immediate target for growth.

If there is no downward reversal below the 0.5329 level and the horizontal is broken we can expect further growth to the channel resistance level of 0.3883 - 0.4469 - 0.4645 from February 7.

Exchange Rates 12.02.2021 analysis

Ekaterina Kiseleva
Analytical expert of InstaForex
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