DrDovetail

XRP back above $.046 resistance testing neckline of doublebottom

Long
BITFINEX:XRPUSD   XRP / U.S. Dollar
We can see xrp has once again broken through the horizontal resistance at 46 cents and is now testing the neckline of the 1 day double bottom pattern. Triggering a breakout of this double bottom pattern can give us a target of 59 cents. Reaching that target should help us rise above any of the other potential top trendlines of our descending triangle pattern( although I'm pretty sure we already broke out of that pattern in early May). All of this bullish convergence should see xrp reaching anywhere from 83 cents at the lowest to $2 on its initial bull run before its first significant correction...$1.33 still seems like a prime target to pay attention to in my eyes but we could easily go higher than that before the first big correction if everything aligns perfectly.

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