Ripple had an enormous run at the beginning of the year and a healthy but very long correction since the top at the 20k satoshi mark. XRP has reached its bottom mid August and has ever since consolidated sidways with a very stable sideways movement. The averages have come together all in a very narrow corridor, which creates an explosive pressure for great upside movements.
Today we have seen price action breaking out with the 7 MA crossing the 77 MA on the 4 hour chart. Further the 77 MA has already come above the 231 MA, so that the chart is now ready for a fast move of all short term averages moving above the long term ones.
Chances are good that we are just starting a nice bull run, however we need have a lot of levels to clear to the upside :)
