- Ripple’s XRP bullish reversal fails to sustain movement above $0.26 but begins a new consolidation phase above $0.25.
- Ripple bulls remain relatively in control despite the failure to push for gains above $0.26.
Spot rate: $0.2534
Relative change: 0.002441
Percentage change: 0.97%
Trend: Bullish
Volatility: Low
XRP/USD daily chart
%20(1)-637163811303076697.png)
XRP/USD continues to extend the gains above a falling wedge pattern; are embrace the control.
Ripple’s immediate upside is limited by the 200SMA while the 50SMA will provide support at $0.2164.
XRP/USD 4-hour chart
%20(2)-637163811929350796.png)
Ripple’s extended bullish flag pattern suggests that a long term reversal is possible especially if the pattern’s resistance is not broken.
Both the RSI and the Elliot Wave Oscillator suggest that more bullish action is imminent in the short term.
XRP/USD 1-hour chart
%20(3)-637163812360925081.png)
Ripple struggles with breaking past the Bollinger Band upper curve resistance.
The immediate upside in the short-range is limited at $0.2560 and $0.2850, respectively.
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