FX.co ★ Ripple attractive for buyers

The price of Ripple retreated a little after its amazing rally and now is trading at 0.3884. Technically, the rate could test and retest the immediate downside obstacles before resuming its growth. The altcoin rallied in the short term as the BTC/USD extended its growth.

Ripple increased by 36.20% in 2023, from 0.3000 on January 02, 2023, to 0.4086 years high registered on Saturday 14, 2023.

XRP/USD Retests The Buyers!

From the technical point of view, the bias remains bullish as long as it stays above the uptrend line. It has tested and retested the upper median line (uml) and the weekly pivot point of 0.3790 and now is struggling to come back higher.

The current retreat and the sideways movement could announce that XRP/USD tries to accumulate more bullish energy. Only dropping and stabilizing below the uptrend line could invalidate the upside scenario.

XRP/USD Outlook!

Testing and retesting the upper median line (uml) and the uptrend line could announce a new upwards momentum. This could represent the first bullish signal. A new higher high activates an upside continuation.