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  • Ripple’s XRP is running towards its third consecutive session in the green.
  • XRP/USD must breakdown $0.5000, or the price will be stay within the current 16 session trading range.

 

Ripple’s XRP price was seen running with modest gains in the very late stages of trading on Friday. XRP/USD was seen up 0.45%, moving towards its third consecutive session in the green, after a tough start to the week initially.

The set up for XRP/USD has presented a clear set of barriers for the bulls to break down, but momentum is required to see a game-changing move back north. Given the recent technical breakout from a daily bull flag pattern, the bulls next upside target appears to be $0.5000.

Should the bulls reclaim $0.5000, they will need to see a convincing break above this area for further buying pressure to come into play. XRP/USD has not trading firmly above $0.5000 since 6th October. There was a brief short-lived period during 15th October but was very unstable. Support looks firm at $0.4415, which has been the bottom of range for the past 16 sessions.

 

XRP/USD daily chart