Ripple is recovering above the $0.2450 resistance against the US Dollar. The current technical structure suggests XRP price is likely to surge above $0.2500 and $0.2550.
Ripple is slowly gaining bullish momentum above the $0.2450 resistance against the US dollar. The price is trading near the $0.2500 resistance, but it is above the 100 hourly simple moving average. There is a key bullish trend line forming with support near $0.2470 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could accelerate higher if it clears the $0.2500 and $0.2550 resistance levels. Ripple Price Likely To Accelerate Higher
In the past three sessions, there was a decent recovery in ripple above the $0.2400 level. XRP price broke the $0.2450 resistance level and the 100 hourly simple moving average to start the current recovery.
There was a break above the 50% Fib retracement level of key decline from the $0.2535 swing high to $0.2380 swing low.