Market Cap. $28 179 718 865
Volume (24h) $754 165 000
Circulating Supply: 39 122 794 968 XRP
Total Supply: 99 992 362 643 XRP
Max Supply: 100 000 000 000 XRP
The Ripple XRP has finally managed to jump above the short-term downtrend line. The crypto has lost the bearish momentum, so the current rebound was natural and expected.
XRP/USD retested the broken downtrend line and now is pressuring the 0.71192 static resistance. Maybe some of you have already entered long on Ripple after the breakout above the downtrend line. Personally, I’m waiting for a valid breakout above the inside sliding parallel line (sl1) to be sure that the rate will really move towards new highs.
It seems like that the major corrective phase is completed, but we still need a confirmation that the Ripple XRP will start a broader upside movement.
A valid breakout above the sliding line (sl1) and above the 0.80000 level will signal a further increase towards the median line (ML) of the ascending pitchfork. The major upside target will be at the upper median line (UML).
The perspective is bullish on the short term as long as the rate stays above the downtrend line and most important above the outside sliding parallel line (sl) of the ascending pitchfork.
XRP/USD slipped lower to test and retest the 0.70835 broken resistance. A failure to make a valid breakout above the sliding line (sl1) will signal a minor exhaustion. Price could come back to test and retest the lower median line (LML) or the outside sliding (sl) before will give birth to a larger bullish movement.
Note: if you want to go long on the XRP/USD you should place a Stop Loss somewhere below the outside sliding line (sl). You can place it somewhere below the 0.53550 to be safe if the rate will come down a little.