A solid reverse head-and-shoulders pattern has been confirmed after the recent XRP retracement in line with BTC and most major alts.
Support at 0.26 (yellow line) is now holding strong with good volume and will form the catalyst for a bounce towards first target of 0.29 as long as price holds about 0.257
A flush break up towards 0.32 may also play...
Could not sustain the mid-April break up into the yellow channel.
However, we now anticipate XRP to rise further after breaking straight through our previous support-resistance yellow channel and heading for higher ground.
Strong support and consolidation resulting in the tightening Bollinger Bands coupled with lower lows and good buy volume suggest an imminent blast for XRP into two well-defined TARGET ZONES.
A flush break of the first TARGET ZONE is expected within the near term into the second TARGET ZONE
Excellent LONG term profits to be made here with XRP having bottomed out...
On the short-term XRP view has posted higher highs with some recent consolidation and strong support.
Based on recent Coinbase listing and consistent adoption news in the XRP sphere we anticipate this to extrapolate over the coming week and form a new short-term higher high at around .37 - breaking through resistance at .32-.34 and for further LONG upside beyond this.