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Rippple (XRPUSD) mostly sideways after meteoric rebound this week

18 Dec, 2020

Yesterday Ripple continued the rebound it began on Wednesday as the price traded to as high as 0.6585. That high was after the price had based out at 0.4379 just the day before. In fact, in percentage terms, a staggering gain of just over 50% in less than 36 hours. Well, given the size of that move, it should as no surprise to see it consolidate the move over the past 12 Hours, as that is exactly what it has done. The range today has been relatively contained so far, with 0.5513 to 0.6132 covering it. The current price is almost exactly right at the mid point of that range (0.5822) and that suggests it is consolidating and making its mind up on which way it will head to next. Therefore, a breach of the current range could deliver some interim price extension. XRPUSD is currently trading at 0.5818

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