Ripple continues to move sideways in the short term. It was trading at 0.3905 at the time of writing below 0.3985 today’s high. It has increased by 7.49% from yesterday’s low of 0.3707 to today’s high.
In the last 24 hours, XRP/USD is up by 3.48% and by 0.75% in the last 7 days. BTC/USD’s upside continuation could force the altcoin to jump higher as well.
XRP/USD Accumulates More Bullish Energy!
Technically, the price action developed a triangle pattern. Escaping from this formation could bring new opportunities.
After taking out the descending pitchfork’s upper median line (uml), the price signaled a new leg higher. Still, we need confirmation before going long again.
A valid breakout above the downtrend line and above 0.4015 indicates further growth and brings long setups.
The material has been provided by InstaForex Company – www.instaforex.com