XRP price is far above the Ichimoku cloud

Ripple has added nearly two percent in the past 24 hours and seems to be optimistic in the beginning of a new week XRP/USD jumped over the red descending trend line on Friday and started to move along a new ascending trend line aspiring to develop an upside tendency. XRP price is far above the Ichimoku cloud meaning buyers are controlling the market.

The possible scenarios for XRP/USD are the following:

1. The currency pair will break through the green ascending trend line and move towards the higher border of the Ichimoku cloud. Once bears are successful in crossing it, they will be given a chance to develop their progress targeting the closest support area at $0.6631.

2. XRP/USD will jump off the green ascending trend line and go higher. The closest resistance area is close to the price’s current position and it will likely be crossed with no difficulties. The next target will be at the next resistance area at $0.7094.

3. Ripple will stay close to the current levels with no significant changes.

As for the daily chart, XRP/USD goes under the Ichimoku cloud, but there is no clear med term tendency currently.

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