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#Ripple (#XRP) Price Analysis: Bullish Channel and Reversal Pattern Forming

ripple xrp

Ripple could be ready to resume its climb as it tests support of a new rising channel on its 4-hour chart.

Ripple has formed higher lows and higher highs over the past week, creating a rising channel visible on its 4-hour time frame. Price is currently testing support and might be due for a bounce back to resistance around 0.5300-0.5400.

The 100 SMA appears to be crossing below the longer-term 200 SMA, though, so the path of least resistance might be to the downside. In other words, there’s a chance that the channel support could break and lead to a downtrend for Ripple.

Stochastic is also on the move down to reflect the presence of selling pressure, but the oscillator is nearing oversold levels to signal exhaustion. Turning back up could bring buying momentum in and lead to a bounce off the 0.4700 support. RSI is moving sideways but has previously been treading lower, indicating that selling pressure is still present.

About Ripple's (XRP): Built for enterprise use, XRP offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments. Using XRP, banks can source liquidity on demand in real time without having to pre-fund nostro accounts. Payment Providers use XRP to expand reach into new markets, lower foreign exchange costs and provide faster payment settlement. XRP consistently handles 1,500 transactions per second, 24x7, and can scale to handle the same throughput as Visa. XRP's five-year track record of stable technology and governance makes it ready for institutional and enterprise use.

Ripple’s (XRP) can be bought with fiat dollars, debit and credit cards on cryptocurrency exchanges such as and and it can be bought with cryptocurrency on exchanges such as CoinEx, Binance, and HitBTC.


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