Published 20 minutes ago by
Brian Bollinger The fast-recovering XRP prices is close to a bullish breakout of the $0.4 resistance. This is due to the double-bottom pattern. This breakout could encourage buyers to lead a significant recovery. But will they break the formidable resistance of $0.466?advertisementKey points: The $0.4 breakout should open a 13.5% growth opportunity for XRP holders
The bearish crossover is imminent for the 50- and 100-day EMAs
The intraday trading volume of the XRP is $2.3 billion, which indicates a 16% gain.
Source: TradingviewThe ripple coin’s price fell after the crypto market sell-off plunged it to $0.32 support. The altcoin price rebounded from $0.32 support twice during this later walk. This indicates that buyers are actively protecting this level. The daily chart also showed a double bottom pattern due to ongoing consolidation. Trending StoriesAlso see: XRP Lawsuit: Blockchain Association Files Amicus ShortThis bullish pattern is well-known for its tendency to reverse and spark a significant bull market. The XRP pierce should break the $0.4 neckline resistance. This triggers the double bottom pattern which provides support for buyers and leads to a recovery rally. This development should push the altcoin 13.5% higher towards the $0.446 mark. Moreover, these EMAs accumulated at $0.436 gives an additional barrier against a bullish recovery.advertisementRelative Strength Index: The daily-RSI slope shows a bullish divergence concerning the double-bottom pattern formation. This divergence supports the bullish theory of reclaiming $0.4.XRP intraday pricesSpot price: $0.39
Trend: Bullish
Volatility Low
Resistance level- $0.4 to $0.46
Support level – $0.35 and 0.328
Share this article:About author
Disclaimer
The content presented may contain the author’s personal opinion and may not reflect current market conditions. Before investing in cryptocurrency, do your market research. Close Story