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Ripple’s XRP Technical Analysis: XRP/USD promising signs for the bulls return

  • XRP was trading down marginally by some 0.6% in the early part of Monday.
  • XRP/USD had staged a decent rebound on Sunday, with the surge higher. 
  • Price action formed a bullish reversal doji candlestick on the daily, bulls must capitalize. 
  • On Sunday, XRP/USD managed to stay above the 11-12 October low area, which was seen a key near-term support. 

 

XRP/USD daily chart 

Spot rate:                  0.3763

Relative change:      -0.65%

High:                         0.3929

Low:                          0.3680

Trend:                        Bearish/Neutral

Support 1:                  0.3375, daily pivot point support.

Support 2:                  0.3271, 25 November low.

Support 3:                  0.2964, daily pivot point support.

Resistance 1:             0.4000, psychological resistance.

Resistance 2:             0.4059, daily pivot point resistance.

Resistance 3:             0.4333, daily pivot point resistance.

XRP/USD 60-minute chart

  • Bullish pennant formation is being eyed via the 60-minute chart view, subject to an extended move higher.

Source: fxstreet

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