RIPPLE (XRP) : Breakout Imminent

(Mon, 7 Dec 2020). The third-largest cryptocurrency, and one of the most popular retail coins, Ripple is setting up a bullish technical pattern that may well cause a break higher in the near-term. The coin is completing a basic bullish pennant formation, driven by lower highs and higher lows, and a breakout seemingly nears.

The rest of the daily XRP chart remains positive as well, with the Ripple above all three moving averages, while the CCI indicator is back out of overbought territory. Volatility remains high, leaving room for a breakout.

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