Ripple (XRP)

Ripple needs no introduction, an open-source, permissionless and decentralized technology which offer low-cost, speed, scalability and inherently green attributes as well as featuring the first decentralized exchange. Also, Ripple news about legal battle with the SEC increased its popularity; although, the final outcome of these courts battle can determine its long-term direction. Anyway, it can be seen from the chart that XRP loves to make big triangle-shaped pattern, mostly descending ones. And after each ones, XRP's price soared. XRP also broke its last descending triangle pattern and went upward, albeit a little. But it seems for the XRP to soar, we need to wait for the legal battle results. Let's see what happens.

تعليق:

XRP still looks good. If price break above the minor horizontal line, then upward movement will be more promising. Let's see what happens.

تعليق:

So, XRP broke through its resistances and went up with momentum. It seems an inverted wedge pattern has formed, and Ripple is pulling back on the horizontal resistance area that could act as a support. Let's see what happens.

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Just an update.

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So, XRP reaction to the inverted wedge's lower line was promising. Now we have to wait and see if XRP can break above these two downtrend lines or not. Let's see what happens.

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So, XRP started an upward impulse wave from the bottom of the inverted wedge pattern and is going up toward the major downtrend line (the blue line). Let's see if XRP can reach or break this line.

تعليق:

After breaking the triangle pattern in which oscillating, Ripple is going up slowly.