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.
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