XRP / Dollar may rise to 0.6412 - 0.6481

Our pivot point is at 0.6155.

Our preference

The upside prevails as long as 0.6155 is support.

Alternative scenario

The downside breakout of 0.6155 would call for 0.6039 and 0.5969.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.6102 and 0.6052).

Supports and resistances

0.6620 **

0.6551 *

0.6481 **

0.6412

0.6259 last

0.6200

0.6155 **

0.6039 *

0.5969 **

Number of asterisks represents the strength of support and resistance levels.