Ripple buyers in full control


Ripple was rallying at the time of writing and it seemed determined to approach and reach fresh highs. The price action signaled that the downside is limited and that the price could jump higher.

XRP/USD registered 6.06% growth from 1.0871 today's low to 1.1530 today's high. Technically, the crypto pair challenges a dynamic resistance. The price of Ripple went up by 3.29% in a week.

As you already know, the price of Bitcoin reached a fresh all-time high of 67,016.50 today. BTC/USD's growth forced the altcoins to grow as well.


XRP/USD BREAKOUT ATTEMPT

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Ripple registered a false breakdown with great separation below the 38.2% retracement level on Sunday signaling that the downside is limited. It has managed to come back above the upper median line (uml) and now is pressuring the outside sliding line (sl).

Making a valid breakout through the sliding line (sl) could signal further growth. Registering a new higher high, a bullish closure above 1.1860 Saturday's high could really announce a larger growth.



RIPPLE OUTLOOK
Failing to stabilize under the 38.2% retracement level or below the upper median line (uml) followed by a valid breakout through the sliding line (sl) could represent a long opportunity with major targets at 1.3499 and 1.4162 levels.





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Ralph Shedler
Analytical expert of InstaForex
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