Ripple Technical Analysis: XRP/USD forms a bull flag, imminent spike higher, bulls looking to claim some losses back

Ripple price is nursing marginal losses of 0.5% on Monday, after another sell-off late Friday evening.
XRP/USD after receiving a bid over the weekend, has consolidated and managed to form a bullish flag pattern.

Ken Chigbo Independent Analyst

XRP/USD 60-minute chart

Spot rate: 0.46045

Relative change: -0.50%

High: 0.46400

Low: 0.45258

Trend: Neutral

Support 1: 0.45255, (support on 60-minute chart).

Support 2: 0.44571, lower part of bull flag.

Support 3: 0.44000, mid-point of demand zone.

Resistance 1: 0.46100, upper part of bull flag.

Resistance 2: 0.47200, (resistance on 60-minute chart).

Resistance 3: 0.48450, 30th June high.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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