XRP sets itself up for a short-term 5% to 8% bounce

XRP, the third-largest crypto has had its downs more than ups; things have started to change for XRP, but the future looks slightly less gloomy. Especially with a tiny surge on the horizon.

4-Hour Chart

Source: XRP/USD TradingView

XRP’price successfully completed a reversal pattern [triple bottom] and surged by 15% reaching $0.22. This pump for XRP arrived after reaching a low of $0.17 on December 18, 2019; this level was last seen in September 2017.

The chart for XRP shows the completion of the falling wedge [a bullish pattern]; the breakout will take the price to two possible targets, depending on how the bulls steer the breakout. The first stop would be a 4% pump to $0.2096 and the second target would be $0.22 [9% pump].

Conclusion

The short-term target for XRP includes a 5% pump to $0.20 to $0.21, followed by a pump up to $0.22. Any further surge depends solely on the momentum of the buyers and is unlikely.