XRP revisits support zone
XRP revisits support zone, having come off Wednesday’s high.
XRP bearish case
XRP revisits its key $2.0845 to $2.0360 support zone, which consists of the mid-April to June lows.
Were it to give way on a daily chart closing basis, the early April and late February lows at $1.9604 to $1.9509 may be revisited and perhaps even Sunday's $1.9096 trough.
Downside pressure will remain in play while the 25 June high at $2.2295 is not overcome. If so, the $2.3300 to $2.3381 resistance area may be back in play.
XRP bullish case
Provided that the $2.0845 to $2.0360 support zone underpins on a daily chart closing basis and a rise above the 25 June high at $2.2295 takes place, the $2.3300 to $2.3381 resistance area would be eyed.
In this case, the 200-day simple moving average (SMA) at $2.3690 is likely to be reached as well and, if overcome, the 23 May high at $2.4801 too.
Further up lies the May peak at $2.6542.
XRP/USD chart
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