Ripple is starting to look more bullish in the short-term after bouncing sharply from the bottom of falling price channel, around the 0.5000 level. The four-hour time frame also shows that the XRPUSD pair has formed a large inverted head and shoulders pattern. Any pullbacks under the 0.6000 level should be a solid dip-buying opportunity in expectation of further gains for the XRPUSD pair.
The XRPUSD pair is only bullish while trading above the 0.6500 level, key resistance is found at the 0.7000 and the 0.8000 levels.
If the XRPUSD pair trades below the 0.6500 level, sellers may test the 0.6000 and 0.5800 levels.
