Ripple May Trade Sideways For A While
Gregor Horvat | Oct 22, 2021 07:39AM ET
Ripple didn't manage to break above the channel resistance line, and some Altcoins are already at the resistance.
We must be aware of a more complex correction in wave B/2 until we see a broken 1.18 bullish confirmation level.
We could see more sideways price action or a retest of 1.00 – 0.85 support zone.
Ripple is recovering in the 4-hour chart as expected and looks like it's trying to break above channel resistance line that can push the price at least up to 1.25 - 1.40 area for wave (C) or maybe even up to 1.5 - 1.7 area for wave (3).
Keep in mind that the price may also stay sideways, so the invalidation level remains at 0.85.
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