The XRP price is rapidly recovering from $0.4 resistance. This is due to the double-bottom pattern. This breakout could encourage buyers to take part in a significant recovery. But can they break the formidable resistance at $0.466? Key points: The $0.4 breakout should open up a 13.5% growth chance for XRP holders
The post Ripple’s (XRP Price Chart: A Bullish Pattern Emerged; Buy Now! CoinGape was first to publish this article.

  

The XRP price is rapidly recovering from $0.4 resistance. This is due to the double-bottom pattern. This breakout could encourage buyers to take part in a significant recovery. But can they break the formidable resistance at $0.466?
These are the key points

The $0.4 breakout should provide a 13.5% growth opportunity to XRP holders
The bearish crossover is imminent for the 50- and 100-day EMAs
The intraday trading volume of the XRP is $2.3 billion, which indicates a 16% gain.

Source- Tradingview
After the recent plunge in the crypto market, the ripple coin price fell to $0.32 support. The altcoin recovered from the support mentioned twice in the later walk, which indicates that buyers are actively protecting this level.
The bullish reversal of $0.32 support has driven XRP prices 22.57% higher to reach $0.4-0.39. The daily chart also showed a double bottom pattern due to the ongoing consolidation.
Also read: XRP Lawsuit – Blockchain Association Files Amicus Brief
This bullish pattern is well-known for its tendency reversal and sparks a significant bull market. In response to the above pattern, the XRP should break the $0.4 neckline resistance.
A bullish breakout at $0.4 triggers a double bottom pattern and provides support for buyers to lead a recovery rally. This development should push the altcoin 13.5% higher towards the $0.446 mark.
Contrarily, if coin buyers fail to exceed the $0.4 mark the ongoing consolidation will continue for a few more session.
Technical Indicator
EMAs: A flattish critical EMA (20, 50, and 100 respectively) indicate a sideways trend in XRP’s price. These EMAs, which have been accumulated at $0.436, are an additional barrier to a bullish recovery.
Relative Strength Index (RSI): The daily-RSI slope indicates a bullish divergence regarding the formation of the double-bottom pattern. This divergence supports the bullish theory to reclaim $0.4.
XRP intraday price levels

Spot price $0.39
Trend: Bullish
Volatility Low
Resistance level- $0.4 to $0.46
Support level – $0.35 and 0.328

The post Ripple’s (XRP Price Chart: A Bullish Pattern Emerged; Buy Now! CoinGape was first to publish this article.