Is Ripple ready for a bullish breakout? [Video]

Gregor Horvat Wavetraders

We talked about Ripple with ticker XRPUSD on September 4th, when we spotted nice and clean bullish setup formation of different degrees.

We were tracking a lower-degree bullish setup with strong leg up into subwave "i", followed by a nice a-b-c pullback in wave "ii" that is right now perfectly bouncing from 0,50 support area after Grayscale announced to Launch First U.S. XRP Trust, Paving the Way for Potential ETF. So, we should be now aware of a bullish continuation for wave "iii", especially if breaks above channel resistance line and 0,66 region.

XRP/USD Four-hour chart

XRPUSD actually made a nice five-wave recovery away from the support which is strong evidence for bulls that can be subwave (i), so more gains can be seen on Ripple, but ideally after an a-b-c pullback in wave (ii) that can retest 0,55 – 0,54 support area.

XRP/USD one-hour chart

For more analysis like this you may want to watch below our latest recording of a live webinar streamed yesterday on September 16 2024:

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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