- XRP/USD is back on its upwards path after retesting the broken obstacles!
Ripple increases and regains lost ground in the short term. The price plunged last week from 0.75500 high to reach the 0.34000 psychological level. Technically, XRP/USD registered only a temporary correction and now it moves higher again.
The crypto should continue to increase if Bitcoin, Ether, Litecoin will jump higher towards fresh new highs. Ripple's short-term decline helped the buyers to buy it lower with a great risk/reward ratio.
XRP/USD Strongly Bullish!
Ripple decreased only to retest the black downtrend line and the 0.3468 static support before climbing higher. Its failure to retest the mentioned support levels in the last attempt and the upside breakout through the Pivot Point (0.5049) indicate strong buyers.
Closing above 0.5429 Wednesday's high represents a buying signal. The next upside target is seen at the R1 (0.6691) level. A valid breakout above R1 validates a broader growth ahead.
Ripple Trading Tips!
The early morning H4 bullish candle that closed above 0.5429 former high represents a long signal. The R1 could be used as a target. Jumping and closing above the 0.70000 psychological level represents a new buying opportunity with a higher target at the R2 (0.9181).
