Ripple Is Breaking Bullish Triangle
We shared Ripple with ticker XRPUSD with our members back on September 12, where we mentioned and highlighted that a larger bullish triangle pattern in wave IV is coming to an end that we may see a bullish breakout for wave V.
www.wavetraders.com
As you can see today on November 15th, XRPUSD is breaking out of a larger bullish wave IV triangle pattern, which means that wave V can be already underway, especially if breaks 0.95 bullish confirmation level, just watch out on short-term pullbacks.
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The reason why Ripple could extend higher is the upcoming launch of Ripple USD (RLUSD). Ripple USD (RLUSD) is a new stablecoin aimed at bridging blockchain and traditional finance. Designed for enterprise use, RLUSD focuses on stability, efficiency, and transparency, enhancing Ripple’s cross-border payments and meeting the demand for USD transactions. Read more HERE.
If you want to catch up some short-term pullbacks, you may want to become a member of www.wavetraders.com
For more analysis like this, you may want to watch below our latest recording of a live webinar streamed on Monday Novermber 11 2024:
On the date of publication, Gregor Horvat did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.