Ripple (XRPBTC) had a nice 1.5 months bullish run where it moved from a low of 0.00002365 to a peak price of 0.00003779, producing a total of 59.79% of growth.
After such growth, a retrace is 100% normal and is now taking place. So Ripple is correcting to consolidate the last bullish wave, but additional growth is possible.
Here is our latest long-term XRPBTC chart:
The following bullish signals are coming from the chart:
Bullish/green volume is dominant, the bulls are in control.
The MACD reached a low in early August, it has been moving up since.
The RSI reached a low in early July, it has been moving up since.
XRPBTC is now trading above EMA10 on this timeframe (weekly). This is a strong signal. If XRPBTC moves and closes below EMA10 (0.00003149), more additional drop is possible, above this level means that it can continue to grow.
The Dec. '17 support has been activated and XRP had a strong bounce once this level was hit. Back in 2017, XRPBTC went on a massive bull run after this level was conquered.
On the chart above, you can see the profits potential from the current price to the next strong resistance (150%), to the next Fib. extension high (430%+), and to XRPBTC All-Time High (620%+).
What's your take on where Ripple is headed next year?
Share your thoughts and charts in the comments section below.
Namaste.
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