FX.co ★ XRP/USD: bullish pattern in play

XRP/USD is moving sideways in the short term. Technically, the current range could represent an accumulation before resuming its upwards movement. It was trading at 0.4693 at the time of writing. As long as BTC/USD continues to move sideways, the altcoin could extend its range.

Ripple is down by 4.91% in the last 7 days and by 1.70% in the last 24 hours. After the current narrow movement, XRP/USD could explode soon.

XRP/USD Attracts More Buyers!

After jumping above the downtrend line, Ripple was expected to resume its growth. It has climbed as much as 0.5582 where it has found resistance. It has retreated in the short term and it tries to accumulate more bullish energy above the 0.4170 - 0.4375 support zone.

The price action developed a triangle pattern. As long as it stays above the uptrend line, XRP/USD could develop a new bullish momentum.

XRP/USD Forecast!

Testing and retesting the triangle's support and the 0.4375 static downside obstacle, registering false breakdowns may announce a new upside movement and could bring new long opportunities.

As you already know from my previous analyses, a larger upwards movement could be activated by a new higher high, after a valid breakout through 0.5582.