Ripple Technical Analysis: XRP/USD promising signs for bulls, after daily reversal candlestick, bullish pennant seen on shorter time frame

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  • Ripple was seen up some decent 5% in gains on Wednesday, after being dealt serious blows over the past couple of weeks.
  • XRP/USD has seen the formation of a reversal candlestick on the daily and a bullish pennant observed on the 30-minute chart.

 

XRP/USD 30-minute chart

 

XRP/USD daily chart
 

Spot rate:                   6395.3

Relative change:       +3.33%

High:                          6483.0

Low:                           6180.0

Trend:                        Bearish

 

Resistance 1:             0.28893, upper part of pennant.  

Resistance 2:             0.29000, supply zone.

Resistance 3:             0.29200, (resistance on 30-minute chart).

Support 1:                  0.28289, lower part of pennant.

Support  2:                 0.27435, 50MA & 100MA crossover.

Support  3:                 0.26500, (support on 30-minute chart).

 

 

 

 

 

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