XRP/USD forms a cup and handle bullish pattern

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XRP/USD forms a cup and handle bullish pattern

XRP/USD forms a cup and handle bullish pattern

XRP/USD is trading around $1. Price has formed a cup and handle bullish pattern. Now we are in the handle phase of the pattern and if price breaks above $1.06 we will have the activation of this pattern.

XRP/USD forms a cup and handle bullish pattern

Green line – trigger resistance

Red lines – handle

Black line – cup

XRP/USD has recently made crypto news headlines as price broke to new 3 year highs. The current price formation is very promising and if price breaks above the green resistance we could see a sharp move towards $1.28-$1.33 area which is the minimum target for the cup and handle pattern. A new rejection at $1,06 and a push below $0.97 will most probably bring price back towards $0.90.

The material has been provided by InstaForex Company – www.instaforex.com

Source : https://www.fx.co/forex_analysis/quickview/216049/