Ripple Locked in a Range?

Ripple has been trading in a tight range over the last week but is trying to break out today. Shackled for most of the time between 0.555 and 0.454, the currency that divides opinions whether it really is a decentralised crypto, has provided some opportunities for day traders despite its far lower volume.

In last week’s video we identified the resistance at the upper end of this range from a drop back on February 6th. That level is has been breached today after a retreat to 0.507. Many sellers seem to be looking for another drop down to 0.454 which has been the support on several recent occasions but bulls are seeing some wind in their sails.

In purely percentage terms this range is about 20% wide and provides ample opportunity for trading but it’s the next levels that seem to be more interesting to the majority. Here to discuss them is trading expert David Jones, with a detailed look on the hourly and daily charts for Ripple.