XRP/USD bullish flag ready for the bull stampede breakout

  • Ripple’s XRP was seen holding decent gains in the early part of Tuesday, up some 2.5%.
  • XRP/USD jumped higher in early trading, big thanks to a move led by Bitcoin. This appearing to be due to renewed market optimism, following Nasdaq announcement, to list Bitcoin futures next year. 
  • Price action since the jump in early hours, has formed a bullish flag pattern, subject to a breakout. As seen via the 30-minute chart view. 

 

XRP/USD 30-minute chart
 

 

Spot rate:                  0.3564

Relative change:      -2.55%

High:                         0.3602

Low:                          0.3375

 

Trend:                        Bullish 

 

Resistance 1:             0.3632, daily pivot point resistance.

Resistance 2:             0.3796, daily pivot point resistance.

Resistance 3:             0.3893, daily pivot point resistance.

Support 1:                  0.3560, on top of bull flag. 

Support 2:                  0.3371, daily pivot point support.

Support 3:                  0.3275, daily pivot point support.

 

XRP/USD daily chart

  • Price action moved towards a double bottom area on the daily. Chunky demand area seen from $0.3500 down to $0.3200. 

 

Crypto Destroyer