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Ripple's XRP Technical Analysis: XRP/USD breaks out from bull flag set up, here come the bulls

Ripple's XRP was seen up with gains of around 0.60% heading through the mid-point of Monday's session.
XRP/USD bulls broke out to the upside from a bullish flag pattern formation.
Big buyers remained firm within the $0.5000 area, after cooling of price seen over the past few sessions.

Ken Chigbo Independent Analyst

XRP/USD 60-minute chart

Spot rate: 0.5102

Relative change: +0.65%

High: 0.5105

Low: 0.4955

Trend: Bullish

Resistance 1: 0.5113, 12 November upper wick high.

Resistance 2: 0.5121, daily pivot point resistance.

Resistance 3: 0.5173, daily pivot point resistance.

Support 1: 0.5048, above breached flag.

Support 2: 0.5000, psychological area of support.

Support 3: 0.4987, daily pivot point support.

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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