FX.co ★ Ripple: upside continuation possible

Ripple retreated a little in the short term as BTC/USD dropped as well in the short term. It's trading at 0.5082 at the time of writing. It has dropped by 5.50% from yesterday's high of 0.5292 to 0.5001 today's low.

After its strong rally, a temporary retreat is natural. The altcoin could test and retest the immediate support levels before jumping higher. In the last 7 days, XRP/USD is up by 12.83% but it's down by 2.85% in the last 24 hours.

XRP/USD Minor Retreat!

XRP/USD retreated a little and now is located right below the median line (ml). Still, the breakdown below this dynamic support could be invalidated.

In my opinion, the bias remains bullish in the short term as long as it stays above the weekly R1 (0.4980).

XRP/USD Forecast!

Coming back and stabilizing above the weekly R2 (0.5130) and above the median line (ml) may announce further growth. Also, a new higher high should bring new longs. The upper median line (uml) is seen as a potential target.