Ripple has found support and now is almost to reach a dynamic resistance, a downtrend line. Making a valid breakout through this line could bring a great buying opportunity. XRP/USD increased in the short term as the price of Bitcoin has managed to rebound and recover after its last drop.
Technically, Ripple has shown some oversold signs, but we still need to wait for a fresh bullish signal before taking action. Selling here is risky, so personally, I'm looking for buying opportunities.
XRP/USD Downside Seems Over!
Ripple failed to reach the 0.5096 level and now is located right below the downtrend line. Taking out this dynamic resistance could really signal strong growth in the short term. Technically, XRP/USD could slip lower if it stays under the immediate downtrend line.
Outlook!
Jumping and closing above the downtrend line and beyond the weekly pivot point (0.6019) is seen as a buying opportunity with a first potential upside target at 0.7000.
