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  • Ripple price see holding gains of over 1% on Thursday, as the bulls wake up with a kick in momentum late on Wednesday.
  • XRP/USD price action has formed a bullish pennant pattern, nearing a potential breakout higher.

 

The Ripple price was seen trading in positive territory on Thursday, holding minor gains of over 1% in the latter stages of the session. Upside momentum being kicked back into the market, during the late part of Wednesday, as seen across much of the market.

Since XRP/USD shooting for the stars from September 18th, where the price ran all the way up close to $0.80, it has slowed down within consolidation mode. From 21st September, the price started range trading, which formed this pennant pattern.

Given the above-mentioned bullish pattern set up, it does appear XRP/USD could be subject to some buying pressure. The price looks well supported by the ascending trend line, $0.5280. Resistance to the upside not seen until $0.6000 territory.

 

XRP/USD 4-hour chart