empty
 
 

22.09.202215:36 Forex Analysis & Reviews: XRPUSD approaches major resistance.

Relevance up to 09:00 2022-09-27 UTC--4

Exchange Rates 22.09.2022 analysis

Red line- major resistance trend line

Blue lines - trading range

Yesterday we noted on time that XRPUSD was breaking out of the trading range it was in for the last few months. Price today is trading above $0.43 with potential to reach the major downward sloping trend line resistance at $0.46. The break out yesterday was an important bullish signal. Our target is around $0.46 where we expect to see the next big rest. A rejection will bring price back towards $0.40 if not lower. On the contrary, a break above $0.46 will provide a new bullish signal and our target will then be at $0.55-0.56 with potential to reach even higher.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Alexandros Yfantis,
Analytical expert of InstaForex
© 2007-2022
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade



  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS
Can't speak right now?
Ask your question in the chat.