Ripple Grows As Expected

Ripple increased and now it has registered a new higher high indicating strong buyers. Technically, XRP/USD was expected to increase after escaping from the triangle pattern. It has increased as much as 1.4000 psychological level today. Now is traded at 1.3916 level and it stands within a resistance zone.

Ripple is up by 6.47% in the last 24 hours and by 21.48% in the last 7 days. Bitcoin's growth helped the altcoin to increase as well. The outlook is bullish, but only a temporary consolidation of a retreat could help us to catch new long opportunities.

XRP/USD Fresh Higher High!

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Ripple resumed its growth after closing above 1.3232 high. Now it has jumped far above 1.3499 former high. XRP/USD is pressuring the weekly R1 (1.3893) static resistance. The 61.8% is seen as an upside target as well, so the crypto needs to make a valid breakout to be able to resume its growth.

Personally, I would like to see a temporary consolidation above the R1, 61.8%, and above 1.4 psychological level which could validate further growth.

Outlook!

Its breakout through 1.3499 former high activated an upside continuation. Jumping and closing above the 1.4079 level could represent a new long opportunity with potential targets at 1.45 and 1.50 levels.

The material has been provided by InstaForex Company - www.instaforex.com

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