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Ripple Enters the Chinese Market


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The last few days have been very slow for XRP/USD — similar to many other cryptocurrencies — and now the pair is stuck in a tight range between 0.50 support and 0.52 resistance. As shown by the bullish trend line on the chart, the price is currently in an uptrend, but until the 0.50 – 0.52 channel is broken decisively, we will probably get more of this ranging, choppy movement.

We favour a bullish breakout above 0.52 mostly because Ripple (XRP) is benefiting from the positive news. In addition, the pair has bounced twice at 0.50 support and shown increased bullish pressure.





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