Technical analysis of Ripple for August 12, 2021

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Ripple is ready for a major rally in the weeks/months ahead. All that is need is to break above the trendline resistance from April near 1.0240. If when this trendline finally gives away, we have a positive signal from the Ichimoku indicator and the accumulation cylinder calls for a rally to 3.43 is the next leg higher.

The digital assest could be entering a period of consolidation in the 0.9254 - 1.0919 before the next strong rally higher towards 3.4300

The material has been provided by InstaForex Company - www.instaforex.com

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