Ripple Finally Breaks Out

We've finally seen the breakout anticipated in Ripple. Readers should have been prepared for this and hopefully took advantage of prices below the $1 handle. We are currently at $1.05, sitting at support from a nested Fibonacci level at $1.03. On 30-minute charts, we have a consecutive series of dragon head breakouts forming a full impulse wave so anticipate a slight retracement before it breaks further. Ripple has strong support from below at $1.03, $1, and beyond that in the sub $1 handle at $0.95, $0.93, $0.92, $0.91, $0.87, $0.86, $0.85 and $0.79. Levels from above include $1.06, $1.12, and $1.22.

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