Ripple Technical  Analysis: XRP/USD chunky pullback as profit taking kicks in from the excessive pump

• Ripple price on Monday seen down a big 8%, as market participants look to cash in on their profits.  
• XRP/USD has pulled back some 35%, after missing just shy of a reclaim of the $0.80 mark.
• The touted profit taking and somewhat of a reversal isn’t too surprising given the big bull run in such a short space of time.

XRP/USD daily chart  

Spot rate:                    0.53154

Relative change:        -7.10%

High:                           0.58418

Low:                            0.51010

Trend:                         Bearish.

Resistance 1:                0.59900, resistance on daily chart.

Resistance 2:                0.62650, 22 September high.

Resistance 3:                 0.70650, supply zone.

Support 1:                   0.5075-0.5275, demand zone.

Support 2:                     0.49210, long lower wick 22 September.

Support 3:                   0.45210, demand zone.