Ripple Price Prediction: XRP bulls need to take out the 0.2331 to move higher
- Ripple trades 0.41% lower as it ran into trouble today.
- An internal trendline stopped the price from moving higher.
Ripple Chart Analysis (60-Mintute Chart)
XRP/USD has been making a broad-base pattern recently.
Now we are at a level which needs to be taken out for the bulls to take charge.
The resistance level at 0.2331 is the consolidation high and is now the major resistance.
Sunday's candle tried to take out the level but failed at the last minute to gather any real bullish momentum.
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Ripple Daily Price Chart
Below is the daily chart and it shows the extent that the current resistance level is holding price from moving higher.
If it does break there is still traffic in the way.
One thing about the long trade is the fact there is still a very heave downtrend in place and it will take a lot of support to change this.
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Additional Levels
Author
Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
