Ripple is bullish on the daily timeframe
Hi;
Like most altcoins in the market, Ripple had a range trend over the past week. After showing a strong negative reaction to the resistance of the $0.55 range, its price fell to the $0.42 support range by entering a corrective wave. A positive reaction was observed in this support area because it was considered a strong demand area. Also, the orders of many buyers were activated. As discussed in the previous week, the price is expected to enter the range trend due to the sharp and fast movements in the current resistance support range.
In fact, the trend of Ripple is bullish on the daily timeframe and bearish on the weekly timeframe, and considering the strong reactions seen on both sides, we expect the price of Ripple to remain within this range for some time. For the short-term, the weekly pivot is in the $0.457-$0.468 support range, which could be a temporary support area in the 1-hour time frame, and as long as this range holds, another upside move to the $0.55 resistance is expected. A bullish flag pattern can also be considered for this time frame in the current range, which will be confirmed if the minor resistance of the $0.476-$0.480 range is broken upwards, and the 1-hour candle closes above this range.
Like most altcoins in the market, Ripple had a range trend over the past week. After showing a strong negative reaction to the resistance of the $0.55 range, its price fell to the $0.42 support range by entering a corrective wave. A positive reaction was observed in this support area because it was considered a strong demand area. Also, the orders of many buyers were activated. As discussed in the previous week, the price is expected to enter the range trend due to the sharp and fast movements in the current resistance support range.
In fact, the trend of Ripple is bullish on the daily timeframe and bearish on the weekly timeframe, and considering the strong reactions seen on both sides, we expect the price of Ripple to remain within this range for some time. For the short-term, the weekly pivot is in the $0.457-$0.468 support range, which could be a temporary support area in the 1-hour time frame, and as long as this range holds, another upside move to the $0.55 resistance is expected. A bullish flag pattern can also be considered for this time frame in the current range, which will be confirmed if the minor resistance of the $0.476-$0.480 range is broken upwards, and the 1-hour candle closes above this range.
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