Ripple price is returning strong today [Oct 24] as a gain over 10 percent against the US Dollar is being experienced. If the near term support holds – XRP/USD could open doors for increase.
Bulls Returning on the Market Strong
Ripple price could not hold ground on its major gains the previous days while dropping lower everyday until reaching the mark of $0.1900 on Oct 24. This came due a strong selling pattern that did include the whole market from the leader Bitcoin to $5,570 or the second following Ethereum to the lows of $278.01.
The descending process stopped and a phase of correction took place which was followed with bulls taking control of ‘the game’. The pair XRP/USD broke above the weekly long declining pattern that has been formed since Oct 18.
A critical level that will ensure increase continuation for the Token by the planned out-to-be global payment system – Ripple was overcoming the important $0.2100 mark as it has been acting like a support and resistance for some time now.
The surge that took place today and changed the ‘flow of things’ has formed a near-term supportive trend line which in the case that holds the price upwards above the $0.2100 mark would be a good indication to be for close-term profit on gains.
Ripple right now is trading 12.95% in lead against the Bitcoin market with $230 million exchange volume in the last 24-hours. Bithumb is pairing out of the complete market, 39.47 percent with KRW.