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Ripple forecast – decision imminent! Will Ripple rise?

 


During the consolidation phase, the Ripple price formed a descending triangle. These triangles often serve as continuation patterns, which is why the price is usually more likely to break out to the downside. Because of this, we would be cautious about the Ripple course for the time being. We would expect a bearish breakout once the $0.38 support breaks. From bullish once the triangle trend line breaks. Once something has been broken, we expect a clear direction as to where it will go.

If we look at the Bitcoin course as a comparison, we can see that the Bitcoin course had formed the same triangle. The difference here is that Bitcoin has already broken out of the triangle in a bullish manner . Because of this, we expect Ripple to break out bullish as well. Ripple could catch up with Bitcoin.

Since we can now assume that the Ripple price will break out bullishly, we also draw in the target that is possible in the event of a bullish breakout. We anticipate Ripple price to rise until the next resistance. This is around $0.49. Furthermore, the formation target sits around $0.49, which is why we think a move to around $0.49 is likely.

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