FX.co ★ Ripple Upside Continuation!

Ripple has turned to the upside after ending its temporary corrective phase. It's trading at 1.5474 at the time of writing and it seems strong enough to resume its upwards movement.

The corrective phase was somehow expected after registering strong growth in the last weeks. Now it could resume its uptrend if it stabilizes above the broken upside levels.

XRP/USD increased by 14% today, now it could retreat a little before starting to increase again.

XRP/USD Aggressive Breakout!

XRP/USD ended its corrective phase on the 61.8% retracement level and now is trading higher above the weekly resistance (1.4178). Escaping from the down channel signaled that we may have a new leg higher.

The current aggressive breakout above the ascending pitchfork's median line (ml) and through 1.4671 former high signals a strong growth ahead. Technically, the rate could come back to retest the median line (ml) before jumping higher.

Forecast!

The current breakout above R1 and through the median line (ml) could bring further growth towards the R1 (1.8006) and up to the upper median line (uml).