XRP / Dollar may rise to 0.5500 - 0.5559

Our pivot point is at 0.5300.

Our preference

Look for a drop towards 0.5300 before a bounce.

Alternative scenario

The downside breakout of 0.5300 would call for 0.5202 and 0.5144.

Comment

The RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is below its 20 period moving average (0.5382) but above its 50 period moving average (0.5379).

Supports and resistances

0.5675 **

0.5617 *

0.5559 **

0.5500

0.5380 last

0.5339

0.5300 **

0.5202 *

0.5144 **

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