Ripple rallied in the last hours and now is located at 0.5354 at the time of writing. You knew from my previous analyses that the altcoin developed a bullish formation. Now, the price action really signaled a potential upside reversal.
XRP/USD increased by 7.28% from today’s low of 0.5119 to 0.5491 daily high. The altcoin is up by 3.00% in the last 24 hours and by 4.06% in the last 7 days.
XRP/USD Downtrend Line Violated!
XRP/USD is still trapped between the 0.4835 and 0.5578 levels. Now, it has jumped above the downtrend line signaling a new leg higher.
After its strong growth, we cannot exclude a minor retreat as the rate could try to retest the broken downtrend line.
XRP/USD Outlook!
Jumping and closing above 0.5578 activates further growth and is seen as a buying signal.
The material has been provided by InstaForex Company – www.instaforex.com
Ripple rallied in the last hours and now is located at 0.5354 at the time of writing. You knew from my previous analyses that the altcoin developed a bullish formation. Now, the price action really signaled a potential upside reversal.
XRP/USD increased by 7.28% from today’s low of 0.5119 to 0.5491 daily high. The altcoin is up by 3.00% in the last 24 hours and by 4.06% in the last 7 days.
XRP/USD Downtrend Line Violated!
XRP/USD is still trapped between the 0.4835 and 0.5578 levels. Now, it has jumped above the downtrend line signaling a new leg higher.
After its strong growth, we cannot exclude a minor retreat as the rate could try to retest the broken downtrend line.
XRP/USD Outlook!
Jumping and closing above 0.5578 activates further growth and is seen as a buying signal.
The material has been provided by InstaForex Company – www.instaforex.com
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