FX.co ★ Ripple ready for imminent breakout

Ripple dropped a little in the short term but it could still resume its growth. It's trading at 0.3895 at the time of writing. After its strong growth, a minor retreat was natural. It could test and retest the immediate downside obstacles before jumping higher.

In the last 24 hours, XRP/USD is up by 1.16% and by 4.63% in the last 7 days. Technically, the price action signaled that the downside seems limited. Bitcoin's rebound helped the altcoins to gain ground.

XRP/USD Upside Pressure!

Technically, the rate failed to stay above the 0.4015 static resistance. Now, it has dropped a little but the bias is bullish as long as the token stays above the uptrend line.

The upper median line (uml) represents a dynamic resistance. Staying near this dynamic resistance may signal an imminent breakout.

XRP/USD Forecast!

A valid breakout through 0.4015 and above the upper median line (uml) confirms further growth. This brings long opportunities.