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Ripple's XRP technical analysis: XRP/USD forming a potential double bottom

  • Ripple's XRP price is trading in the green by some 1.30% in the session on Thursday.
  • XRP/USD price action is forming a potential double bottom via the daily view.
  • Eyes are on the neckline area of $0.2300-50 range of the noted formation. 
Ripple's XRP technical analysis: XRP/USD forming a potential double bottom
Ken ChigboKen ChigboIndependent Analyst

XRP/USD daily chart

The price has bounced off big support which could be a double bottom at around $0.2150.

XRP/USD 60-minute chart

A near-term potential bearish flag formation can be eyed via the 60-minute chart view. 

Spot rate:                 0.2175

Relative change:      +1.30%

High:                         0.2189

Low:                          0.2125

Author

Ken Chigbo

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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