Ripple is trading in the green at 0.3539 at the time of writing. The altcoin is fighting hard to resume its growth as BTC/USD and ETH/USD rallied. I’ve talked about an upside reversal in a previous analysis, but we still need confirmation.
XRP/USD increased by 5.32% from yesterday’s low of 0.3366 to 0.3545 today’s high. Bitcoin’s further growth should force the altcoin to approach and reach new highs.
XRP/USD 0.3550 As Key Level!
Technically, XRP/USD passed above the immediate downtrend line. This represented a dynamic resistance. Now, it was almost to reach the 0.3550 former high which represents a static resistance.
The altcoin failed to stay below the median line (ml) of the ascending pitchfork signaling strong buyers.
A valid breakout through 0.3550 signals further growth and represents a long signal.
The material has been provided by InstaForex Company – www.instaforex.com