XRP / Dollar may rise to 0.5600 - 0.5659

Our pivot point stands at 0.5394.

Our preference

As long as 0.5394 is support look for 0.5659.

Alternative scenario

The downside breakout of 0.5394 would call for 0.5294 and 0.5235.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.5464 and 0.5404).

Supports and resistances

0.5778 **

0.5719 *

0.5659 **

0.5600

0.5472 last

0.5433

0.5394 **

0.5294 *

0.5235 **

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