Ripple (XRPUSD) rebounds from weekend move below 0.50

On Friday evening Ripple managed to lift to a session high at 0.5845. Earlier in the day it had traded to as low as 0.5275. The leading alt coin looked like it would hold that gain ahead of the weekend. However, it did not and formed a double top just above 0.5850 when it peaked at 0.5867. The subsequent move took the price sharply lower around midnight on Friday. The price slumped below 0.50. That set up a further move lower on Saturday morning as the price dropped to as low as 0.4860. Another rebound, to just above 0.52 petered out again as the price fell back to 0.4860 once more. However, the formation of a double bottom there very early on Sunday made for another rebound back to 0.52.  However, since reclaiming levels above 0.52 on Sunday, the price is yet to surpass 0.5275 which was the low set on Friday. Cleary this level appears to be now acting as short term resistance to any immediate upside. Hence a break either side of 0.4860 and 0.5275 might deliver a short term price extension. XRPUSD is trading now at 0.5185