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15.03.202318:38 Forex Analysis & Reviews: XRPUSD gets rejected at resistance trend line.

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.

Exchange Rates 15.03.2023 analysis

Black line- resistance trend line

Green rectangle- support area

XRPUSD remains in a bearish short-term trend as price continues making lower lows and lower highs. XRPUSD continues to get rejected each time price touches the black downward sloping resistance trend line. This price action confirms the importance of the black trend line. XRPUSD got rejected yesterday when price touched the resistance trend line. Price remains vulnerable to another move towards the green support area around $0.30.

Alexandros Yfantis
Analytical expert of InstaForex
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