XRP / Dollar may rise to 0.5340 - 0.5405

Our pivot point stands at 0.5115.

Our preference

As long as 0.5115 is support look for 0.5405.

Alternative scenario

The downside breakout of 0.5115 would call for 0.5007 and 0.4942.

Comment

The RSI is above 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 0.5201 and 0.5177).

Supports and resistances

0.5534 **

0.5470 *

0.5405 **

0.5340

0.5210 last

0.5157

0.5115 **

0.5007 *

0.4942 **

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