Ripple corrected lower from $0.2640, but it found support near $0.2510 against the US Dollar. XRP price is currently rising and it seems like the bulls are aiming a fresh increase above $0.2600.
- Ripple remained well bid above the $0.2500 and $0.2510 support levels against the US dollar.
- The price is now trading above the $0.2550 resistance and the 100 hourly simple moving average.
- There was a break above a major bearish trend line with resistance near $0.2555 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair is likely to continue higher if it clears the $0.2585 and $0.2590 resistance levels.
Ripple Price Holding Gains
This past week, we saw a sharp increase in ripple above the $0.2500 resistance area. XRP price even surged above the $0.2600 resistance and settled well above the 100 hourly simple moving average.
It traded to a new monthly high near $0.2640 before starting a downside correction. There was a break below the $0.2600 and $0.2550 support levels. However, the bulls were able to defend the $0.2500 support zone.
A support base seems to be forming near $0.2500 and the price is currently climbing higher. There was a break above the $0.2550 level. More importantly, there was a break above a major bearish trend line with resistance near $0.2555 on the hourly chart of the XRP/USD pair.
Ripple traded as high as $0.2590 and it is currently correcting lower. It is testing the $0.2565 level and the 100