XRP price poised for 46% gains after Ripple secures first Dubai license

XRP price may see significant gains in the near term due to improving technicals, Ripple’s new Dubai license and a possible conclusion of its battle with the SEC.

XRP’s price is eyeing a breakout from a classic chart pattern in the near future after Ripple acquired its first-ever license in the Middle East.

XRP (XRP) has been consolidating inside a descending triangle pattern since topping out at its seven-year high of $3.40 on Jan. 16.

After finding support from the triangle’s horizontal line at $2.00, the XRP/USD pair has left behind a sequence of higher lows over the last four days to its upper trendline, as shown in the chart below.

XRP price may see significant gains in the near term due to improving technicals, Ripple’s new Dubai license and a possible conclusion of its battle with the SEC.
XRP’s price is eyeing a breakout from a classic chart pattern in the near future after Ripple acquired its first-ever license in the Middle East. XRP (XRP) has been consolidating inside a descending triangle pattern since topping out at its seven-year high of $3.40 on Jan. 16. After finding support from the triangle’s horizontal line at $2.00, the XRP/USD pair has left behind a sequence of higher lows over the last four days to its upper trendline, as shown in the chart below.Read more