Ripple Technical Analysis: XRP/USD promising signs for bulls, after daily reversal candlestick, bullish pennant seen on shorter time frame

• Ripple was seen up some decent 5% in gains on Wednesday, after being dealt serious blows over the past couple of weeks.
• XRP/USD has seen the formation of a reversal candlestick on the daily and a bullish pennant observed on the 30-minute chart.

XRP/USD 30-minute chart

XRP/USD daily chart
 

Spot rate:                    6395.3

Relative change:        +3.33%

High:                           6483.0

Low:                            6180.0

Trend:                         Bearish

Resistance 1:                     0.28893, upper part of pennant.  

Resistance 2:                      0.29000, supply zone.

Resistance 3:              0.29200, (resistance on 30-minute chart).

Support 1:                    0.28289, lower part of pennant.

Support    2:                  0.27435, 50MA & 100MA crossover.

Support    3:                  0.26500, (support on 30-minute chart).