FX.co ★ Ripple Long Opportunity Confirmed!

Ripple edged higher today indicating further growth ahead. The price escaped from a symmetrical triangle signaling a new leg higher and strong momentum. As you already know from my analyses, XRP/USD moved in range in the short term maintaining a bullish outlook.

Passing and stabilizing above 0.50000 psychological level represented a first bullish signal. The price's failure to come back to test and retest the uptrend line signaled strong buyers and potential sharp growth.

XRP/USD Valid Breakout!

XRP/USD has finally registered a valid breakout from the symmetrical triangle and through the 0.5 level confirming more gains. Now it is very important for the price to close above 0.5495 Saturday's high to really validate the buying opportunity.

Technically, the price registered a valid breakout above the Pivot Point (0.4965) signaling an increase at least until 0.5703 level. Closing above this level announces larger growth in the upcoming period.

Ripple Trading Tips!

Retesting the pivot point, 0.5, and the symmetrical triangle's resistance followed by the current rally, jump above 0.5495 level is seen as a bullish signal. So, closing above this level brings a buying opportunity with upside targets at 0.7000 and at 0.7574 levels.