Ripple (XRP) Above This Confluence Resistance Could Spark Fresh Rally

Ripple (XRP) Above This Confluence Resistance Could Spark Fresh Rally


Ripple retested the $0.2380 support zone against the US Dollar. XRP price is likely to start a fresh rally once it clears the 100 hourly SMA and the $0.2460 resistance region.

Ripple is recovering higher after tagging the key $0.2380 support zone against the US dollar. The price is trading near the $0.2420 resistance and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $0.2430 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair must clear the 100 hourly SMA and the $0.2460 resistance to start a fresh rally. Ripple Price Showing Positive Signs

After a decent upward move above $0.2460, ripple failed to settle above the $0.2500 level. XRP price retreated from the $0.2533 high and declined below the $0.2460 support.

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There was a break below a major bullish trend line with support near $0.2430 on the hourly chart of the XRP/USD pair.

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