Ripple is moving sideways in the short term. After its strong drop, it could try to develop a new leg higher. It stands at 0.4640 at the time of writing. It seems undecided, so we have to wait for fresh opportunities.
Yesterday, it crashed as BTC/USD dropped. Now, it has turned to the upside as Bitcoin increased again. XRP/USD increased by 8.43% from yesterday’s low of 0.4333 to 0.4698 today’s high.
XRP/USD Sell-off Could Be Over!
Technically, it’s trapped between 0.4402 and 0.4790 levels in the short term. As you can see on the H4 chart, the rate registered a false breakdown with great separation below the lower median line (lml) of the ascending pitchfork indicating the end of the sell-off.
The current range could represent a bullish pattern. Still, we’ll have to wait for a valid breakout from this formation before taking action.
XRP/USD Outlook!
A valid breakout above 0.4790 activates further growth and represents a bullish signal.
The material has been provided by InstaForex Company – www.instaforex.com
Ripple is moving sideways in the short term. After its strong drop, it could try to develop a new leg higher. It stands at 0.4640 at the time of writing. It seems undecided, so we have to wait for fresh opportunities.
Yesterday, it crashed as BTC/USD dropped. Now, it has turned to the upside as Bitcoin increased again. XRP/USD increased by 8.43% from yesterday’s low of 0.4333 to 0.4698 today’s high.
XRP/USD Sell-off Could Be Over!
Technically, it’s trapped between 0.4402 and 0.4790 levels in the short term. As you can see on the H4 chart, the rate registered a false breakdown with great separation below the lower median line (lml) of the ascending pitchfork indicating the end of the sell-off.
The current range could represent a bullish pattern. Still, we’ll have to wait for a valid breakout from this formation before taking action.
XRP/USD Outlook!
A valid breakout above 0.4790 activates further growth and represents a bullish signal.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: