- Ripple trader over 1% lower as cryptos struggle to gather upside momentum.
- There is a bull flag on the 4-hour chart has been broken.
XRP/USD 4-hour chart
Ripple move higher yesterday and broke out of the bull flag pattern on the 4-hour chart below but has since failed to gather anymore upside momentum. At the time of writing the 55 exponential moving average (4-hour periods) is also being tested and is currently providing some support.
The volume histogram at the bottom of the chart is showing a lack of volume in the market at the moment but as we know in the crypto market this can change at the drop of a hat. The RSI indicator is also languishing around the 50 mid-point with no real clear direction. As the bull flag is broken the bias for this pair remains to the upside unless the price moves back in the pattern.
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