- Ripple price is leading the cryptocurrency market in recovery on Wednesday.
- XRP/USD perpetual swap contract trading on BitMEX exchange.
Spot rate: $0.2775
Relative change: 0.0108
Percentage change: 4%
Trend: Bearish
Volatility: High
BTC/USD weekly chart
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Ripple price continues to sustain the falling wedge pattern breakout momentum.
The price could remain in the hands of the buyers a while longer based on the RSI up trending movement from December.
XRP/USD daily chart
%20(7)-637164774820291229.png)
Ripple bullish correction cuts above a three-month resistance trendline as bulls refocus on trading above the psychological $0.30 level.
The narrowing gap between the 50-day SMA and the 200-day SMA signals the growing traction of the bulls against the bears.
XRP/USD 2-hour chart
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Short term analysis places the bulls in control event as the RSI makes its way into the overbought region.
In the event a retreat comes into play, XRP banks on the accelerated trendline (dotted) and the main trendline support.
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