【XRPJPY】 Daily chart basis forms a double bottom

In the 9th post on July 17, titled "【XRPJPY】A prolonged period below the 20SMA," we showed a weekly chart and mentioned that it has been positioned below the 20SMA for 21 weeks. There has been no change in that situation, but there is one piece of good news when viewed on a daily basis. A long bullish candle formed last night and surpassed the 2σ line of the Bollinger Bands. This around the 54-yen area includes a double bottom neck line, attracting attention to the ongoing battle between buyers and sellers.

If we cross the neck line and a band walk begins, the scenario could move toward the target value of about 65 yen after a double bottom breakout. And this approximately 65 yen corresponds to the level where the weekly 20SMA is marching. Surpassing this level would be nice, as it would also relieve the lingering frustration of Ripple holders who have been stuck in salt.