XRP/USD: upside continuation to be activated
Crypto-currencies
2023-05-26 17:57:47
Ripple rallied in the short term and now is located at 0.4626. The altcoin ended its temporary drop and now it has turned to the upside as BTC/USD rallied as well. You knew from my previous analysis that XRP/USD could still jump higher despite the short-term retreat.
XRP/USD increased by 5.74% from yesterday's low of 0.4430 to 0.4684 today's high. In the last 24 hours, the altcoin is up by 3.48% but it's down by 0.82% in the last 7 days.
XRP/USD Breakout Needs Confirmation!
XRP/USD found support on the lower median line (lml) and now it has jumped above the downtrend line. I've told you in the previous analysis that staying near the downtrend line indicates an imminent breakout.
Technically, as long as it stays above the lower median line (lml) of the ascending pitchfork, XRP/USD could extend its swing higher.
XRP/USD Outlook!
A valid breakout above 0.4674 is seen as a buying opportunity.
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