Charted: Ripple (XRP) Recovery Faces Hurdle, Why Dips Could Be Limited

Charted: Ripple (XRP) Recovery Faces Hurdle, Why Dips Could Be Limited


Ripple started a strong recovery wave above the $0.2500 and $0.3000 levels against the US Dollar. XRP price is currently facing a strong resistance, but dips might be limited below $0.2500.

Ripple started a fresh upward move after forming a support base near $0.2150 against the US dollar. The price is now trading well above $0.2500 and the 100 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $0.3550 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair spiked to test the trend line and it is currently retreating towards $0.2750. Ripple’s XRP Price is Facing Hurdles

After a sharp decline, ripple’s XRP price started a consolidation phase above the $0.2000 level. A support base was formed near the $0.2150 level before the price started a strong increase.

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The price broke the $0.2450 and $0.2500 resistance levels to start a strong increase. There was a close

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