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Ripple Technical  Analysis: XRP/USD big bulls do not appear to be done running price higher yet

  • Ripple price holding on to decent gains on Tuesday, up over 2% through the mid-point of the session.
  • XRP/USD price action seen the big spike higher yesterday, is moving within consolidation mode. However, the formation of a potential bullish flag pattern is being eyed.  
  • Market players are somewhat optimistic and enlightened, after Ripple revealed they have been undergoing extensive meetings with Trump administration. Discussing XRP and the cryptocurrency market. Topic of discussions even included the mining going on in China, how they are a leader in this area in terms of activity.  

 

XRP/USD 60-minute chart  


 

Spot rate:                   0.46800

Relative change:        +2.01%

High:                          0.48815

Low:                           0.46940

 

Trend:                        Neutral/Bearish

 

Resistance  1:            0.47100, upper part of flag.

Resistance  2:            0.48750, resistance on 60-minute chart.

Resistance  3:            0.50000, psychological resistance.

Support 1:                 0.44380, 50MA (60-minute).  

Support  2:                 0.43300, lower part of flag & 100MA..

Support  3:                 0.38950, broken descending trend line.  

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