XRPUSD Retraces to the Demand Level to Gather Bullish Momentum

XRPUSD seems to be recovering from the bearish trend in the market. There was a long struggle between the bears and bulls between $0.450 and $0.030. The demand for XRP rose significantly at the $0.300 demand level, leading to a rally. The market has ascended past $0.450. The market has retraced back to the major level at $0.450.

Support levels: $0.450, $0.350, $0.300
Resistance levels: $0.550, $0.650, $0.870

The Reading of the Indicators

The Stochastic lines are resting in the oversold region. The bulls are therefore expected to utilize $0.450 as a launch-pad to soar towards $0.870. The daily candles have soared above the Moving Averages (periods 89 and 200), signifying bullishness in the market. The 200-period Moving Average appears to be positioning itself as a support for further bullish movement.

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