We're seeing some interesting news in the space and it's bringing some volatility back to the cryptocurrency market again once more.
The most recent Ripple news affecting some price movements:
https://www.coindesk.com/swift-chief-announces-integration-with-r3-at-paris-fintech-forum
We've seen Ripple holding the price along the upwards sloping purple trendline established awhile back.
The bounce today helps to preserve this trendline as a support for $XRP moving forward.
Traditionally, a bounce from the trendline has given a relatively strong rally in the days following it's bounce.
RSI is also looking to reverse on the daily charts similarly with a support line on the Daily RSI.
In addition, Bitcoin is looking relatively stable.
As long as we don't see a major dump on $BTC, I believe this Ripple rally should continue in the short term(several days).
The most recent Ripple news affecting some price movements:
https://www.coindesk.com/swift-chief-announces-integration-with-r3-at-paris-fintech-forum
We've seen Ripple holding the price along the upwards sloping purple trendline established awhile back.
The bounce today helps to preserve this trendline as a support for $XRP moving forward.
Traditionally, a bounce from the trendline has given a relatively strong rally in the days following it's bounce.
RSI is also looking to reverse on the daily charts similarly with a support line on the Daily RSI.
In addition, Bitcoin is looking relatively stable.
As long as we don't see a major dump on $BTC, I believe this Ripple rally should continue in the short term(several days).