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Banks Increased Attention To The Cryptocurrency Market

Dec 11, 2019

Ripple has been forming a reversal pattern in the ascending triangle form for the last 3 weeks. An upper line break will signal a trend reversal and an attempt to overcome the 0.24 level and further to 0.26 level.

The news background should help the coin to recover. For example, Bank of America believes in the great potential of Ripple’s technology. Such cooperation always encourages the market to grow. XRP/USDT is no exception.

This optimistic scenario can only be canceled by the BTC movement, which will pull all the altcoins with it. And as we know, in this case, technical analysis is powerless.

The closest target on the long - 0.24-0.26

We put the stop under the triangle’s ascending line - 0.21.

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