Technical analysis
The XRPUSD pair continues to enjoy strong dip-buying demand and is testing back towards its trend defining key 200-day moving average.
The MACD indicator on the daily time frame still shows that XRPUSD has significant upside potential, and a bullish breakout from a falling wedge pattern is underway.
What the possible outcomes are
In our most likely scenario, the XRPUSD pair will start to rally towards the $1.0500 level after breaking above its key 200-day moving average.
Alternatively, XRPUSD consolidates around its key 200-day moving average, and then correct one final time back towards the 0.6800 support level.
Key levels
Support 0.7100 0.6800
Resistance 0.9000 1.0500
