Ripple (XRP) Primed For Further Upside Against Bitcoin (BTC)

The daily chart shows that the price is still far away from the 50 day exponential moving average but if it rebounds successfully off the 38.2% fib retracement level, we could see it shoot towards the top of the descending triangle. It is important to note that Ripple (XRP) remains at risk of a major correction long term but short-term, it is primed for further upside against Bitcoin (BTC).

The trend line resistance is yet to be broken but the price has been consolidating around the 50 week exponential moving average for the past few weeks. There is no reason to think that XRP/USD is about to start a new bullish cycle yet but if this trend line resistance is broken, a lot of retail investors will turn bullish again and will likely get trapped as the whales dump on them before the long awaited correction kicks in.