Ripple's XRP technical analysis: XRP/USD possible double-top eyed

Ripple's XRP price is trading marginally in the green, minor gains of 0.85% in the second half of Tuesday.
XRP/USD via the daily chart view has the growing possibility of a double-top formation.
The major barrier of resistance is observed from $0.4600-0.4800 range, the last ahead of $0.5000 return.

Ken Chigbo Independent Analyst

Spot rate: 436.14

Relative change: +0.85%

High: 0.4574

Low: 0.4216

XRP/USD

Overview
Today last price	0.4523
Today Daily Change	0.0034
Today Daily Change %	0.76
Today daily open	0.4489

Trends
Daily SMA20	0.3812
Daily SMA50	0.3425
Daily SMA100	0.3317
Daily SMA200	0.3436

Levels
Previous Daily High	0.4607
Previous Daily Low	0.4176
Previous Weekly High	0.4291
Previous Weekly Low	0.3616
Previous Monthly High	0.3803
Previous Monthly Low	0.2827
Daily Fibonacci 38.2%	0.4442
Daily Fibonacci 61.8%	0.4341
Daily Pivot Point S1	0.4241
Daily Pivot Point S2	0.3993
Daily Pivot Point S3	0.381
Daily Pivot Point R1	0.4672
Daily Pivot Point R2	0.4855
Daily Pivot Point R3	0.5103

XRP/USD 60-minute chart

Price action is attempting to breakdown supply observed from $0.4550-0.4600 price range.

XRP/USD daily chart

There is a possibility of a double-top formation observed via the daily chart view.

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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