Technical analysis on XRP/USD

Ripple is trading around $0.53 after a strong upward move from $0.17 to $0.75. Price continues making higher highs and higher lows but the major double top around $0.75 is the key level for the bullish trend.

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Yellow rectangles- double top resistance

XRP/USD is far from its all time highs. Price has formed a double top at the resistance area of $0.75. Support is at last week's low at $0.41. Bulls need to defend this level and not break below it. Breaking below it could push price even lower back towards $0.20-$0.17. Recapturing $0.75 on a weekly basis will be the most important step for bulls in order to start a strong rally $1,34 which the first target if the break out happens.



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Alexandros Yfantis
Analytical expert
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