Ripple Started Recovering, Now Testing The $0.17 Level

Ripple started recovering from the previous $0.1280 support zone against the US dollar. The XRP price will likely surpass the $0.1500 resistance and will go towards the $0.1700 resistance. The XRP price is showing a few positive signs as well against the USD and there is even a short-term breakout pattern forming close to the $0.1500 on the hourly charts as we are about to read now in the XRP price news.

The XRP price could even go higher towards the $0.1700 level or retreat back to $0.1300. After trading closer to the $0.1280 support, Ripple started recovering and the XRP price broke the $0.1380 and $0.1400 resistance levels so it can move into a short-term positive zone. The price even climbed above the $0.1500 resistance and the 100 hourly simple moving average. Of the price manages to trade as high as $0.1546, it could correct lower. There was another break below the 23.6 percent Fib retracement level of the upward move from the 40.1281 low to the $0.1546 high.

However, the XRP price decline was limited since it found another support close to the $0.1450 region. There’s a short term breakout pattern forming close to the resistance of $0.1500 on the hourly charts of the XRP/USD pair. If there is another break above the level of $0.1500, the XRP price will likely continue higher. The next resistance is close to the The next resistance is close to the $0..
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1550 zone above which the bulls will aim to a test of $0.1650 and the $0.1700 resistance level in the near term. Any more gains could lead the price to break the $0.2000 barrier.

If ripple fails to extend the rise above the $0.1500 resistance, it could even drop below the support zone triangle. Initial support comes near the $0.1450 level below which the price could test the $0.1400 zone. A very close support is coming close to the 50% Fib retracement level of the upward move from the previous $0.1281 low. There could be another break below the $0.1400 support zone which could open the doors for a larger decline. The next major support is close to the $0.1300 level where the bulls will likely take it from there.