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XRP/USD Bulls Produce Escape From A Bearish Pennant

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  • Ripple’s XRP price is trading up with gains of some 8.50% in the session on Monday. 
  • XRP/USD price has smashed out from a bearish pennant structure via the daily chart view. 
  • Upside was capped at $0.2600 however a breakout of this daily resistance has been seen.

XRP/USD daily chart
The price was moving within a bearish penannt structure since 25 September, however, managing to break free from this in the session on Sunday and then extending north on Monday. 

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XRP/USD 60-minute chart
Price action has broken out from a narrowing range-block formation via the 60-minute chart.

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Spot rate:                 0.2463
Relative change:      +8.80%

High:                         0.2793

Low:                          0.2538

Image Sourced from Pixabay

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