FX.co ★ Ripple Confirms Its Upside Breakout!

Ripple slipped lower after reaching 0.7537 level. Now is traded lower at 0.7102 level but it maintains a bullish bias. It could only retest the immediate support levels before jumping higher.

The current decline was somehow expected as the price of Bitcoin has dropped a little in the short term as well. Bitcoin has managed to resume its growth, so we could expect XRP/USD to start increasing as well.

XRP/USD More Gains In View!

Ripple dropped after failing to close above the R3 (0.7513). Now it has retested the ascending pitchfork's median line (ml) and 0.6928 static support, former resistance. The bias is bullish as long as it stays above these levels.

Another false breakdown or a bullish engulfing could bring new long opportunities. Technically, making a valid breakout above 0.75 psychological level and through the R3 could really validate further growth.

Forecast!

Buy ETH/USD if it makes a new higher high, if it closes above 0.7537 today's high. The next upside target is seen at the upper median line (uml).