Since a month or so, XRP has been trading inside a horizontal channel. Nothing spectacular is happening, really.
As of today, BTC has confirmed the bullish direction in which it has been trading for around three days now. XRP, however, seems to be lagging BTC at the moment.
XRP still has to see a high time frame close above the $1.14 area in order to break the bearish trend. Assuming that XRP will follow the rest of the market, I'd argue that XRP will see some bullish price action in the next 48 hours or so.
Target is the area between $1.32 - $1.40, potentially breaking out of this 1-month horizontal channel in the near future.
Happy trading!
As of today, BTC has confirmed the bullish direction in which it has been trading for around three days now. XRP, however, seems to be lagging BTC at the moment.
XRP still has to see a high time frame close above the $1.14 area in order to break the bearish trend. Assuming that XRP will follow the rest of the market, I'd argue that XRP will see some bullish price action in the next 48 hours or so.
Target is the area between $1.32 - $1.40, potentially breaking out of this 1-month horizontal channel in the near future.
Happy trading!
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