- XRP/USD was seen holding chunky gains of around 3% well into the second half on Monday.
- The price had initially started the session somewhat on the back foot, but bullish momentum kicking into full gear as the session progressed.
- Eyes will be on a potential fast return back up to the $0.5500 territory.
- News wires still picking up on the strong development from the Ripple camp, adding the largest Japanese bank, MUFG to their strong list of financial partners.
XRP/USD daily chart
Spot rate: 0.5254
Relative change: +3.05%
High: 0.5311
Low: 0.4955
Trend: Bearish.
Resistance 1: 0.5256, daily pivot point resistance.
Resistance 2: 0.5432, 8 November high.
Resistance 3: 0.5673, daily resistance & 6 November high.
Support 1: 0.5000, psychological buying area.
Support 2: 0.4903, daily pivot point support.
Support 3: 0.4851, 50DMA.
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