XRP has been gaining a lot of traction over the last couple of weeks, mainly because of bullish news concerning the lawsuit.
In my view, XRP is now in some kind of distribution/accumulation pattern. Since the consolidation takes place after a strong bullish move, we're going to look at it through the lens of a bull-flag. However, be aware that if BTC drops we will most likely see XRP drop as well.
For now, be patient for the bullish break out before entering a potential trade. Targets placed in blue.
In my view, XRP is now in some kind of distribution/accumulation pattern. Since the consolidation takes place after a strong bullish move, we're going to look at it through the lens of a bull-flag. However, be aware that if BTC drops we will most likely see XRP drop as well.
For now, be patient for the bullish break out before entering a potential trade. Targets placed in blue.
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