XRP –
Wave Analysis
In the recent past, Ripple rallied a bit higher than expected and even went above a key hourly level 0.6796 and is still pretty much above this level. Most important, the price broke above the converging wedge formation, this is a sign that the bulls are taking full control. Therefore, as long as the price remains above 0.6796, we expect a possible impulsive wave count to the upper side with an ultimate target at 0.9500. This view can only be rendered futile in case the price breaks below 0.6798, this being the case, we’ll wait for a confirmation that we’re indeed on the sellers territory, however, at the moment, we’re still within our buyers zone.
Trade Recommendations:
Rebuy Ripple around 0.6798 towards 0.9500.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.