The price of Ripple dropped in the short term as BTC/USD crashed. Now, it has escaped from a bullish pattern and it seems determined to develop a new leg higher. Still, strong confirmation is needed. It's trading at 0.7007 at the time of writing.
In the last 24 hours, XRP/USD is up by 0.51% but it's down by 13.08% in the last 7 days. After its massive sell-off, the price action signaled a potential leg higher.
XRP/USD 0.7151 Immediate Resistance!
As you can see on the H4 chart, the price dropped within a down channel. Now, it has escaped from this pattern signaling that the sell-off ended. Technically, the 0.6673 former low and the weekly S1 (0.6820) represent strong downside obstacles.
Consolidating above these support levels should bring more buyers. Still, the immediate high of 0.7151 stands as a static resistance.
XRP/USD Outlook!
A valid breakout through 0.7151 validates further growth in the short term.
