Ripple Technical Analysis: XRP/USD positions itself for a potential eruption, bullish pennant eyed

• Ripple price seen up a healthy 5% in the session, continuing the decent start to the week.  
• XRP/USD price action has formed a bullish pennant formation, subject to a break north.  

XRP/USD 60-minute chart

Spot rate:                    0.33159

Relative change:        +5.26%

High:                           0.33831

Low:                            0.31304

Trend:                         Bullish
 

Resistance 1:              0.33350, 100MA.  

Resistance 2:             0.33750, upper part of pennant pattern.

Resistance 3:             0.35100,  entrance to chunky supply area.

Support 1:                   0.31600, demand zone.

Support    2:                  0.31370, lower part of pennant pattern.

Support    3:                  80.30970, 50MA.