Technical outlook:
Ripple is drifting sideways after pushing through $0.38700 last week. The crypto is seen to be trading close to $0.36400 at this point in writing and is expected to push through the $0.41000 initial resistance in the near term. Bulls will remain poised to hold prices above $0.28700 keeping upward momentum intact.
Ripple has been dropping since April 2021 after printing high at around $1.91600. The corrective drop unfolded as a standard flat (3-3-5) structure and looks complete at the $0.28700 low. If the above structure holds well, prices will continue rallying and break above $0.41000 confirming a bullish reversal.
Ripple has also managed to carve a lower degree upswing between $0.28700 and $0.38700 in the past few trading session. Prices would either continue higher from here or produce a corrective drop before pushing higher. Either way, the crypto is expected to stay above $0.28700 and push through $0.41000 in the immediate future.
Trading plan:
Potential rally through $0.41000 against $0.28700
Good luck!
