Ripple registered a strong upwards movement as BTC/USD rallied in the short term. XRP/USD was traded at 0.3764 at the time of writing and it seems determined to jump towards new highs. As you already know from my previous analysis, XRP/USD signaled that the downside movement ended and that the altcoin could try to come back higher.
Technically, the price ignored strong upside obstacles, so an upside continuation is favored. In the last hour, XRP/USD is up by 0.26% and by 3.60% in the last 24 hours. If Bitcoin extends its growth, Ripple could approach and reach new highs.
XRP/USD In The Buyers' Territory!
XRP/USD resumed its growth and now is traded above the weekly R1 (0.3690), above the 150% Fibonacci line, and above the median line (ML). Breaking above these levels signaled strong buyers and potential further growth.
It has retested the R1 and the descending pitchfork's 150% Fibonacci line confirming its breakout.
XRP/USD Forecast!
As long as it stays above the ascending pitchfork's median line (ML), Ripple could jump higher. A new higher high, jumping and closing above 0.3815 could activate further growth and could bring new long opportunities.
Trading analysis offered by RobotFX and Flex EA.
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