Ripple rises almost 50% in weekend trading

On Friday the leading alt coin, Ripple (XRPUSD) made another move back above $1. Earlier in the session the price has slipped back towards $0.90 after previously spiking close to $1.09. The formation of an interim double bottom at just above $0.92 on Friday built the base for what was an impressive weekend rebound. That rebound delivered a move to as high as $1.3488 yesterday. That was a gain of almost 50%. That took it surging above any technical resistance that might have been in place at $1.2376. That price point defined what was a 50% retracement of the whole move lower, from the record high at $1.9648, to the most recent low at $0.5103. The next retracement level is in place at $1.4092 and defines the 61.8% retracement. The range seen so far today has been covered by 1.2609 to 1.3292. XRPUSD is currently trading at 1.2850