Ripple bounces off the support | Technical Analysis

Ripple has finally shown some signs of life. The coin has been created series of lower highs and lower lows as the multi-month trend line have kept pair below it for 6 months. This trend line represents a key bull/bear line and the move above it will facilitate a bigger move to the upside. On the other side, the more the coin stays below the trend line the lower the chances of the break. Ripple has pushed all the way to 127.2% Fibonacci support extension and it finally reacted off of an important level. The bounce is so far only a minor one but in the next few days we may get a bigger bounce to at least a previous horizontal support, and now resistance.

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