XRP further upside potential

BITSTAMP:XRPUSD   Ripple幣 / 美元
The currency might form another impulse to the upside after consolidating since January 4th. Price broke the 9 day descending channel yesterday and is consolidating just above channel support at the moment, forming another channel on the lower timeframes. A breakout of this pattern followed by bullish price action and we could see new highs on this pair.

*Personal analysis only. It is advised to use your own rules and strategies prior to entering market.

Looking forward to the reversal. Based on your chart, at this point, I believe it'll continue downward some more until it reaches the blue buy zone you've illustrated around the $1.60 mark. Based on the past, every time it's dipped to $1.80, it also reached $1.60. I think we'll see brighter days after dipping to $1.60.
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