Technical Observation

In the recent past, XRP broke above a key daily resistance line $0.8532, pulled back to it before taking off to the upper side. Also of interest is that the price went above all the three Simple Moving Averages (14, 52, 152) and is rallying above these three. This is a sign that the buyers are dominating in this market, thus, I choose to look for long term long position with my take profit at $3.2350. On its way to the upper side, the key lines to look for include $1.2270, $1.6590, $2.8070 and $3.2350. If these lines are breached, then expect a surge towards $5.000.

Trade Signal

Long XRP at $0.8532 towards $1.29510