BTC and XRP - Bullish breakout seen
BTC/USD
The price of Bitcoin has risen by 2.37% from yesterday’s low at $9163 coming to $9380 at its highest point today. The price is now being traded around those levels and is still in an upward trajectory.
Prior to this spikey increase, we have seen the formation of the ascending triangle which appears to be a leading diagonal and is most likely the 1st wave of the higher degree impulse or the A wave from another ABC to the upside. In both cases, further upside movement would be expected from here as the impulsive move is to develop fully but if we have seen a proper breakout then the now labeled A wave would be the 1st out of the higher degree count which indicates that the price is headed for a sustainable uptrend in the upcoming weeks.
XRP/USD
The price of Ripple has made an increase from yesterday’s low at $0.19433 of around 3.12% as it came up to $0.2 mark today. At the moment the price is being traded slightly lower and is showing signs of weakness but overall is still in an upward trajectory.
If this is true then the price of ripple is headed for a higher high compared to the one made on the 9th of July and is even headed likely even higher as another 5th wave of a higher degree should develop after another retracement.