Ripple can exit from triangle pattern and then continue to grow

7 de jan.

Hello traders, I want share with you my opinion about Ripple. Observing the chart, we can see that the price some days ago started to trades in a downward channel, where it first declined to the support line of the channel, and then XRP rebounded up to the resistance line, breaking the 0.6230 level. But soon, the price bounced from the resistance line and in a short time declined to the support line, breaking the resistance level again. After this movement, Ripple bounced from the support line and rose to the seller zone, but the price couldn't fixed and later made a strong downward impulse to 0.5000 points, thereby one more time breaking the 0.6230 resistance level and exiting from the downward channel. After this movement, XRP started to trades in a triangle, where it bounced from the support line and rose higher than the 0.5565 support level, which coincided with the buyer zone. But a not long time ago price declined back to the support line and now trading near. So, possibly Ripple can break the resistance line, thereby exiting from the triangle, and then will continue to grow. For this case, I set my target at the 0.6050 level. Please share this idea with your friends and click Boost 🚀