- The Ripple price was seen up with modest gains of just some 1.5%, through the mid-point of Wednesday’s session.
- XRP/USD via the 4-hour chart view, a rather large bullish pennant pattern can be observed.
The Ripple price was trading in positive territory of just some 1.5%, through the mid-point of the session on Wednesday. It has been a slow-moving day so for Ripple, in line with the other major altcoins, after a large spike higher was observed early AM on Wednesday.
XRP/USD continues to show strong stable momentum, although slow, it is grinding higher. This has continued to be the case since the chunky bounce off the lows printed 14th August, down at $0.2467. Ripple has managed out of the past 8 days of trading post the bounce, 6 session within the green, some encouraging signs for the bulls.
Technically, XRP/USD price action via the 4-hour chart view has formed a rather large bullish pennant pattern, which looks subject to a breakout to the upside. Although the bulls are currently being contained, resistance above just tracking at around $0.3440. A large barrier tracks from $0.35-0.3750. Support eyed at $0.3150, the lower part of the pennant formation.
XRP/USD 4-hour chart
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