XRP Is Seen Heading Back Up Again Amid Middle East Ceasefire

(MENAFN- DailyFX (IG)) ​​​XRP is seen heading back up again ​XRP bullish case:

​XRP swiftly recovered from Sunday's $1.9096 low - amid the bombardment of Iran's nuclear facilities by the US - to so far a one-week high at $2.2118 as President Trump announced a Middle East ceasefire.

​The May-to-June downtrend line and 55-day simple moving average (SMA) at $2.2585-to-$2.2598 are next in line.

​A rise above this resistance area could lead to the 11-to-16 June highs at $2.3381-to-$2.3370 being revisited.

​Above this resistance zone meanders the and 200-day SMA at $2.3743 and lies the 23 May high at $2.4801. Further up lies the May peak at $2.6542.

​XRP bearish case:

​A slip this week may lead to the $2.0845-to-$2.0360 support zone being probed. It consists of the mid-April-to-June lows.

​A fall and daily chart close below this support area may lead to the early April and late February lows at $1.9604-to-$1.9509 being revisited.

​Further potential support can be found between Sunday's $1.9096 low and the March low at $1.9011.

XRP daily candlestick chart Source: TradingView

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