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  • Ripple trade 3.71% higher on Tuesday as sentiment improves after a blip yesterday.
  • There is a short term pattern in place that could give us clues to the future path of XRP.

XRP/USD 4-hour chart

Ripple is looking good at the moment as the market continues to make higher highs and higher lows. It seems like the bulls are in a fight to keep the price above 0.20. Looking at the black resistance zone the bulls will need to take out 0.20524 if the next target of 0.2251 is to be tested. 

On the downside, the red line is the short term consolidation support. The main support zones are at the moving averages, orange trendline and the blue level at 0.1830. So as you can see there is lots of traffic on the downside in terms of support. So hopefully, they can stem any losses from pullbacks before the trend continues higher.

Ripple consolidation pattern

Additional levels