FX.co ★ Ripple: leg higher in play

Ripple turned to the upside and now is trading at 0.4943. It has increased by 10.70% from Monday's low of 0.4590 to 0.5081. You knew from my previous reporting period that the altcoin seems oversold and that the buyers could take it higher.

Ripple is up by 1.36% in the last 24 hours but it's down by 1.47% in the last 7 days. BTC/USD's rally forced the price of Ripple to develop a new leg higher.

XRP/USD 0.5125 Key Resistance!

As you can see on the H1 chart, XRP/USD escaped from the minor flag pattern and it was almost to hit the 0.5125 static resistance.

The minor uptrend line stands as a dynamic support. As long as it stays above it, XRP/USD could extend its growth.

XRP/USD Outlook!

Jumping and closing above 0.5125 activates further growth. This is seen as a long opportunity.