Ripple (XRP) Could Avoid Another Setback if it Stays Above 100 SMA

Ripple (XRP) Could Avoid Another Setback if it Stays Above 100 SMA


Ripple failed to clear the $0.2500 resistance and corrected lower against the US Dollar. XRP price must stay above $0.2380 and the 100 hourly SMA to start a fresh increase.

Ripple is down 3% and it retreated lower from the $0.2485 high against the US dollar. The price is trading near the $0.2380 support and the 100 hourly simple moving average. There was a break below a major rising channel with support near $0.2430 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair must stay above $0.2380 to start a fresh increase in the near term. Ripple Price Recovers 4%

After a decent upward move above $0.2350, ripple faced hurdles near $0.2380. XRP price traded as high as $0.2385 and recently started a downward move.

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There was a break below the $0.2450 and $0.2420 levels. The price even broke the 50% Fib retracement level of the upward move from the $0.2310 low to $0.2485

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