- The Ripple (XRP) price was seen up as much as 3% in the latter stages of Tuesday’s session.
- XRP/USD made an initial break out from a bull flag pattern. Upside momentum saw an extension of gains.
The Ripple (XRP) price jumped over 3% in the session on Tuesday, continuing the upside momentum that was observed on Monday. It has been a very choppy past few sessions, as the market continues to search for a firm committed direction.
XRP/USD price action formed a bullish flag pattern, this began to take shape from 30th September, when the price peaked following a bull run. During the session on Monday 15th October, a breach from that flag was seen, leaving the door open to a further run north.
Technically, given the recent breach from the above-mentioned pattern, it makes XRP/USD susceptible to further buying pressure. Eyes are on the potential for the bullish upper wick from 15th October, to be filled. The fast breakout from the bull flag makes it likely of a retest, which could be seen back at $0.4100, where support tracks. The 50 and 100DMAs are also in proximity. Otherwise, resistance is eyed at the psychological $0.5000 mark.
XRP/USD daily chart
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