RIPPLE DAILY PRICE CHART (LOG)

Technical Outlook: Ripple prices are up over 100% off the February lows with the advance now testing monthly open resistance at 1.1407. An ascending pitchfork formation extending off the January lows keeps the focus higher while above near-term support at ~9646 where the 100-day moving average converges on the 50-line. Broader bullish invalidation remains steady at the 2018 low-day close at 7600.

RIPPLE 240MIN PRICE CHART (LOG)

Notes: A closer look at Ripple price action sees the cryptocurrency breaking above basic trendline resistance extending off the record highs late-last week with a pullback and defense of this slope further validating the near-term breakout. Interim resistance targets eyed at 1.2203 backed by the median-line / 61.8% extension at 1.2956 – a breach there would be needed to fuel the next leg higher in price with such a scenario targeting subsequent resistance objectives at 1.5457 backed closely by 1.6177.

Interim support rests with the 100-day moving average, currently at ~9646 backed closely by the 50-line. Ultimately a break below the 90-handle would suggest a larger correction is underway targeting the 61.8% retracement at 8230 and the low-day close at 7600.

Bottom line: The immediate advance looks a bit vulnerable here but the broader focus remains weighted to the topside while above the monthly / yearly low-day close. From a trading standpoint, I’ll favor fading weakness into structural support OR buying a break and retest of the median-line (1.2956) as support for a move back towards the 1.6177.

XRP/USD IG CLIENT SENTIMENT