Image credit: source

  • Ripple has been flirting in and out of gains on Wednesday, solid commitment awaited.
  • If XRP/USD fails to maintain upside momentum, the price will likely retreat to the top of the pennant pattern.

 

The Ripple price is flirting in and out of gains during the session so far on Wednesday, there is yet to be a commitment from the bulls, after the breakout of the pennant pattern on Tuesday. Across the crypto market prices are broadly flat, after the decent run seen in the previous session.

Further herds of bulls will be on the sidelines until a breakthrough of $0.35-0.37 has been made, the price has not been above this area since 7th August. XRP/USD has still made some impressive upside ground since the low seen on 14th August, gaining over 40%.

As highlighted, a breakdown of the barriers seen at $0.35, $0.36 and $0.37, will allow a clear run at $0.50 territory. Support seen at $0.3347, on top of the breached pennant and then $0.3191, should the trend line be broken down.

 

XRP/USD daily chart

Get the 5 most predictable currency pairs

(Excerpt) Read more Here | 2018-08-29 15:46:52

LEAVE A REPLY

Please enter your comment!
Please enter your name here