Ripple rallied in the short term also because the price of Bitcoin extended its growth. The altcoin was traded at 0.3758 at the time of writing. It remains to see how it will react around the immediate resistance levels.
XRP/USD increased by 8.87% from yesterday's low of 0.3489 to 0.3798 today's high. Technically, the altcoin reached a confluence area which represents strong resistance.
XRP/USD Strong Rally!
Ripple developed a strong upside movement after retesting the descending pitchfork's upper median line (uml). Now, it has reached the confluence area formed at the intersection between the warning line (wl1) with the weekly R1 (0.3790).
After its strong rally, we cannot exclude a temporary retreat in the short term. Only a valid breakout above the resistance levels could signal further growth.
XRP/USD Forecast!
A valid breakout through the confluence area, jumping and closing above 0.3815 activates further growth and brings new long opportunities.
