XRP/USD made a sharp move higher on Saturday from $0.4675 to $0.5299 breaking the triangle pattern to the upside. On Sunday price moved even higher towards $0.55 but in the end prices pulled back towards the triangle boundary for a back test. It is important for bulls to hold above $0.50 in order to accumulate power for the next leg higher.
XRP/USD is bouncing off the triangle boundary. Price seems to find support at the previous resistance area of $0.50. Holding above this level is key for the trend for the next few weeks. With the SEC lawsuit still unresolved and pending, the chart shows us before hand that we could have some good news for XRP/USD. The break out of the short-term range could be initial signs for a bigger move higher. Major resistance remains key at $0.60-$0.75 and as long as price is below this area, XRP/USD is vulnerable to a move lower.
