Ripple (XRPU19) Trading Within Ascending Channel & Triangle

Jul 30, 2019

Ripple (XRPU19) continues trading within an ascending channel with a bullish chart that is only lacking some momentum for some real action.

Even though the chart is looking bullish it can breakdown to gain strength and momentum before moving further up.

We are also looking at an ascending triangle, another bullish pattern.

If XRPU19 can close above EMA50 (0.00003341), it increases the possibilities of it moving higher.

If it closes below EMA50, the retrace is more likely before the next move up.

I've drawn our two main scenarios on the chart.

Here is our most recent trade for this pair, it generated for us up to 72% ROE:

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Namaste.