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Ripple forecast – breakout in the next few months overdue!

 


The Ripple price has formed a trend line and support over the past few months. This trendline has already served as resistance three times, making it a confirmed trendline heading towards the support around $0.53. As the trendline is heading towards support, a descending triangle has formed. However, since descending triangles are only valid after a price crash, we are not assuming a descending triangle here, but a simple consolidation phase, which could serve as a correction. As a result of this consolidation phase, the Ripple price could soon break the drawn trend line in a bullish manner and head for old highs.

The fact that the Ripple course has recently corrected more strongly has resulted in a possible ABC sequence. However, this ABC sequence is not yet activated. It only becomes active as soon as the high (A) is exceeded. With a trendline break, we would expect price to be higher than point A, so we assume an active ABC sequence from there. The target of the sequence is around $3.34 – $4.15. If the Ripple price plays out this scenario, there is a risk that the price will form a double top formation. More on that in the next long-term Ripple forecast.

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