- Breaks out of a channel formation on a short term chart.
- Finds fibo resistance on the daily.
Ripple bulls have been able to cross past upper band of a falling trendline channel in a bullish push, but find it difficult to rise further as it finds resistance on the daily chart in the form of fibonacci retracement.
XRP/USD is trading just a notch above water in a thin Sunday trading at $0.644. On the 180-minute chart, the price of Monero broke out of a falling trendline channel of lower high, lower low which potentially is a first sign of a bullish trend.
On the daily chart, though, XRP faces resistance in the form of 23.6 percent fibonacci retracement of its entire fall from May high, which is exactly where the price is – $0.6446, a tough nut to crack on a low volume weekend.
XRP/USD 180-minute chart:
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