Ripple extends the breakout above the symmetrical triangle but fails to step above the 100 SMA. Technical analysis shows that selling activity is present and recovery will not come easy for XRP. Ripple is once again at the helm of the cryptocurrency market recovery. The third-largest digital asset in the world is up over 1% amid the broad-based consolidation. The bullish action from the opening price of $0.2212 has eyes on $0.2300 but has ascended to highs around $0.2243. The volatility is expanding in tandem with the bullish trend. The price action follows a break above a symmetrical triangle pattern. XRP also enjoyed additional boost after stepping above the 50 SMA on the 1-hour chart. Trading at $0.2238, the immediate upside is limited by the 100 SMA holding ground at $0.2249. The RSI tried and failed to enter the oversold region. Instead, a reversal is ongoing, which hints XRP’s short-lived breakout. Besides, the wide gap between the 50 SMA and the 100 SMA signifies the immense presence of sellers on the market. XRP/USD 1-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next AUD/JPY: Holding above 74 despite the slide in Chinese industrial profits FX Street 3 years Ripple extends the breakout above the symmetrical triangle but fails to step above the 100 SMA. Technical analysis shows that selling activity is present and recovery will not come easy for XRP. Ripple is once again at the helm of the cryptocurrency market recovery. The third-largest digital asset in the world is up over 1% amid the broad-based consolidation. The bullish action from the opening price of $0.2212 has eyes on $0.2300 but has ascended to highs around $0.2243. The volatility is expanding in tandem with the bullish trend. The price action follows a break above a symmetrical triangle pattern.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
