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Ripple is moving sideways in the short term. After its strong drop, it could try to develop a new leg higher. It stands at 0.4640 at the time of writing. It seems undecided, so we have to wait for fresh opportunities.
Yesterday, it crashed as BTC/USD dropped. Now, it has turned to the upside as Bitcoin increased again. XRP/USD increased by 8.43% from yesterday's low of 0.4333 to 0.4698 today's high.
Technically, it's trapped between 0.4402 and 0.4790 levels in the short term. As you can see on the H4 chart, the rate registered a false breakdown with great separation below the lower median line (lml) of the ascending pitchfork indicating the end of the sell-off.
The current range could represent a bullish pattern. Still, we'll have to wait for a valid breakout from this formation before taking action.
A valid breakout above 0.4790 activates further growth and represents a bullish signal.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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