- Ripple trades 0.55% higher today on a mixed day for the major cryptocurrencies.
- The market is consolidating and has moved into a descending wedge formation.
XRP/USD 1-Hour Chart
Ripple is still recovering from the massive price fall on the higher timeframes.
The bulls heavily defended the 0.20 level and now the price has managed to settle at 0.22.
The daily candles are still looking bearish but on the hourly chart, the price has moved into the wedge pattern shown below.
A break to 0.2220 would mean a pattern break to the upside, while the next support is at 0.2180.