Ripple has been consolidating in bearish territory for a week by the Monthly pivot point at 0.89 and has oscillated up to the 0.97 S/R level. Bulls would like to see a break of this pattern and a close above the Weekly pp at 0.96 which could open up for a pop towards the Weekly R1 at 1.07. Above that are the pivot confluence at 1.22-24 (Monthly R1/Weekly R2) and just below the recent swing high at 1.20 sharp. Bulls do not want to see a daily close below the low at 0.85 since it could spark a sell off towards previous swing low, with Weekly S1 as an intermediate support at 0.80
On the hourly chart right now, we see clear bullish divergence, which already has started to affect price. Buls would like to see a H1 close above the Daily pp at 0.903 to open up for a taking out of the recent high at 0.912. This would result in a reversal swing and a shifting bias on the hourly to the upside. Ultimately price needs to shift the trend to bullish by breaching the Cloud and creating a higher low (after a higher high) for more upside conviction.
On the hourly chart right now, we see clear bullish divergence, which already has started to affect price. Buls would like to see a H1 close above the Daily pp at 0.903 to open up for a taking out of the recent high at 0.912. This would result in a reversal swing and a shifting bias on the hourly to the upside. Ultimately price needs to shift the trend to bullish by breaching the Cloud and creating a higher low (after a higher high) for more upside conviction.
