Image by WorldSpectrum from Pixabay 
 

We talked about Ripple with ticker XRPUSD back in July, where we mentioned and highlighted a big upside potential, as we spotted a completed larger weekly bullish triangle pattern in wave IV that can send the price higher for wave V. 

As you can see today, Ripple is in strong and impulsive rise after we spotted a bullish break out of a larger bullish triangle pattern. It's actually already at 1.5 area and looking at the daily chart, there can be even space up to 1.96 - 2.00, which is 2021 highs resistance area and it can be barely first higher degree wave 1.

Why XRP Is higher?

The reason for this push higher on ripple, which has been outperforming in the last few weeks, is the upcoming launch of Ripple USD (RLUSD). Ripple USD (RLUSD) is a new stablecoin aimed at bridging blockchain and traditional finance. "Designed for enterprise use, RLUSD focuses on stability, efficiency, and transparency, enhancing Ripple’s cross-border payments and meeting the demand for USD transactions". Read more HERE.

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