Like many other cryptos, XRP has been trading inside a horizontal channel for most of August.
With the altcoin market seeing some strong returns lately, many tokens have broken out of their horizontal channel and made an upward move. However, XRP has failed to follow the market yet.
With the market being cyclical, it's to be expected that XRP will soon follow the market and move up. The main area of resistance is the area between $1.3 and $1.35. A strong break-out could confirm bullish strength and launch the price further up.
Main target for the break out move is the $1.50 resistance area.
Happy trading!
With the altcoin market seeing some strong returns lately, many tokens have broken out of their horizontal channel and made an upward move. However, XRP has failed to follow the market yet.
With the market being cyclical, it's to be expected that XRP will soon follow the market and move up. The main area of resistance is the area between $1.3 and $1.35. A strong break-out could confirm bullish strength and launch the price further up.
Main target for the break out move is the $1.50 resistance area.
Happy trading!
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