The XRP / USD moves within a bullish pennant scheme, the breakout is imminent

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  • Monday's Ripple XRP price drops to the downside with losses of less than 1.3% in the second half of the day.
  • The XRP / USD has the potential for a big upside breakout, given the technical training observed.

15-minute XRP / USD chart

  • After being shot from an upward range block, the price was forced back south, through the 15 minute chart display.

Spot rate: 0.3718

Relative change: -1.32%

High: 0.3860

Low: 0.3708

Trend: Bearish / Neutral

Support 1: 0.3623, daily support of the articulation point.

Support 2: 0.3581, daily support of the articulation point.

Support 3: 0.3542, daily support of the articulation point.

Resistance 1: 0.3705, resistance at the daily articulation point.

Resistance 2: 0.3744, resistance at the daily articulation point.

Resistance 3: 0.3787, resistance at the daily articulation point.

XRP / USD 4 hour chart

  • Price action is shrinking within this triangular structure, subject to an imminent breach.

Daily XRP / USD chart

  • The daily chart view shows the uptrend pennant model set up, which if broken, could see a strong surge in buying pressure.

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