Ripple Technical Analysis: XRP/USD double top forces bulls to hand over some gains
|- Ripple's XRP is trading within gains of over 2% into the second half of the session
- XRP/USD produced a double top formation, bulls running into a minor near-term resistance, forced to give up some gains.
- there is a near-term supporting ascending trend line, providing some comfort near-term.
XRP/USD 15-minute chart
Spot rate: 0.3058
Relative change: +2.35%
High: 0.3129
Low: 0.2982
Trend: Bearish
Support 1: 0.3041, ascending trend line.
Support 2: 0.2929, daily pivot point support.
Support 3: 0.2855, daily pivot point support.
Resistance 1: 0.3098, upper part of channel.
Resistance 2: 0.3193, daily pivot point resistance.
Resistance 3: 0.3267, daily pivot point resistance.
XRP/USD 4-hour chart
- Price is somewhat support within an ascending channel formation, knocked back marginally after entering supply zone.
XRP/USD daily chart
- The daily view just shows how little the price has done over the past six sessions.
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