Ripple’s (XRP) bulls are finally able to run wild, what to expect next for XRP/USD?

  • XRP/USD surged higher at the late part of Tuesday’s session, thanks to big buying at $0.4400 area.
  • Price action has formed a bullish pennant pattern, subject to another potential move higher.

 

XRP/USD was seen up marginally well into the session Wednesday, holding minor gains of some 0.15%. The bulls appear to have life kicked back into this, as price sees huge jump at the back end of Tuesday’s session.

The price had been summoned to a mundane range, after for the past week, with the bears having most of the control. Big chunky buying swopped into the market, at the lowest levels seen in just over a week of trading. XRP/USD bounce coming around the $0.4400 area.

XRP/USD with the recent surge higher, a large pole can be seen. Price action has consolidated through the second half of the session on Wednesday. Given this behavior it has formed a bullish pennant pattern, subject to another extended move higher.

 

XRP/USD 60-minute chart

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