Technical analysis
The XRPUSD pair has stabilized above the $0.5500 level, this is a very good sign as bulls could be preparing to target the $0.6500 level.
The four-hour time frame shows that a bullish breakout from a falling wedge pattern will take place if XRPUSD bulls can move past the $0.6300 resistance level.
What the possible outcomes are
In our most likely scenario, the XRPUSD pair will continue to head higher, and eventually head back towards the $0.6500 resistance level after recently finding a meaningful price support.
Alternatively, the XRPUSD pair could correct back towards the $0.5500 area and then start to rally back towards the $0.6500 level.
Key levels
Support $0.5500 $0.5167
Resistance $0.6500 $0.8000
