Since Ripple has announced its xRapid the price jumped up – and then consolidated within a falling .
The news for Ripple are still good; Kuwait intends to implement xRapid for international financial transactions.
Although the news are positive this didn´t have an impact on the . Ripple is more or less following the movement of BTC (as shown in graph).
Technically spoken, Ripple has touched the upper limit of the channel and has been on its way to the lower side but stopped this movement within the middle of the channel. In the following a has been formed with Ripple approaching the peak. Whether it´ll break out to the top – and then testing the upper limit – or it´ll break out to the bottom and then reaching the marked zone ( ).
As Bitcoin isn´t at the moment (on ), below the falling and isn´t sending any signal, the risk for the negative scenario has to be taken in consideration.
On the other hand, with breaking the to the top, new momentum and with a BTC it can still be possible, that Ripple turns up again.
So let´s have a look on the indicators and the wedge!
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