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Ripple has recently broken over a descending trendline which indicates that a reversal from the slide might be in order. Since then, the price has gained momentum on this upward move as it has also been eliminated through a consolidation model.
From here, XRP could target the next area of interest at 3600, then the dynamic drop point of 200 SMAs around 3800. The 100 SMA is still below the 200 long-term SMA, however, so the path of least resistance is downward. In other words, the selloff is likely to resume rather than the other way around.
Then, again, the price has closed above the 100 SMA as additional confirmation that the bulls are charging. If this continues, the gap between moving averages could shrink to reflect slower sales pressure and probably signal a bullish crossover. After the 200 SMA dynamic resistance, the next ceiling could be at the .4000 mark.
RSI is already pointing to overbought conditions, however, which means buyers are starting to feel exhausted. Stochastic is moving, but also plunging into the overbought territory to signal that sellers could take over.
A bit of consolidation could be seen, but this could still prove to be a model of bullish continuation. A higher break could stimulate a climb that is equal to the height of the flag pole, while a lower break could trigger a withdrawal towards 100 SMA, a broken trend line or a previous resistance to shooting.
Nowadays, the Altcoins are seeing a strong green, picking up weak gains earlier. Ripple is increasing its lead over ethereum with double-digit earnings. Reporting that TD Ameritrade Network is trying to add XRP to its trading mix may have contributed to the rallies as indicated by a tweet:
"I'm glad you're enjoying our content! We're still exploring the #XRP space – stay tuned for more information. Our team is working hard to make things like this happen. "
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