Ripple Looks To Trade North!

Ripple changed little in the last hours after passing above a dynamic resistance. It remains to see how the rate will react as it is still located below some strong upside obstacles. XRP/USD moves somehow sideways in the short term after ending its sell-off.

Technically, the price of Ripple could confirm a larger growth soon. Still, we cannot exclude a minor decline to retest the immediate support levels before jumping higher. Bitcoin's potential growth could help the XRP/USD to increase as well.


XRP/USD BREAKOUT!

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Ripple is traded at 1.0116 level and it stands above the 150% Fibonacci line which represented a dynamic resistance. Stabilizing above it and making a new higher high, to close above 1.1 psychological level confirms a strong swing higher.

In the short term, the price could still test and retest the broken 150% line before jumping higher. XRP/USD found temporary resistance at the 50% Fibonacci retracement level and at the weekly R1 1.0671.


RIPPLE FORECAST!

Ripple could extend its growth if it jumps, closes, and stabilizes above 1.1000 psychological level. Failing to stabilize under the 61.8% retracement level signaled that the corrective phase could be over.





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Ralph Shedler
Analytical expert
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