Bullish short-term setup in XRPUSD.

XRPUSD is making a sideways consolidation formation looking like a triangle pattern. Taking into consideration the short-term bullish trend we are, the chances of breaking higher and moving above $1.30 over the next 24 hours, have increased dramatically.

Red lines -triangle pattern

Blue line - expected path

XRPUSD is making higher highs and higher lows. Short-term trend is bullish after the bottom at $0.50 area. Price is now forming a triangle pattern shown in red lines in the chart above. I expect price to eventually break the triangle to the upside and move towards $1.32-$1.36 area first. If this target is achieved, next should be $1.41-$1.45.

The material has been provided by InstaForex Company - www.instaforex.com

from RobotFX