Ripple XRP Faces A Strong Resistance Near The $0.1500 Range

Ripple XRP faces a strong resistance close to the $0.1500 range against the USD. However, according to the XRP price news, the price remains well supported at the $0.1400 region, and it could even start an increase towards the $0.1700, so let’s read more in today’s ripple price news.

The Ripple price is trading in a critical range above the $0.1400 support level against the US dollar, and there are a few key hurdles that are formed at the $0.1500 and the $0.1550 levels. There is no major contracting triangle close to the $0.1485 levels on the hourly charts of the XRP/USD pair. The price will also increase higher once it goes past the $0.1500 level. The bulls went past the price above the $0.1500 level, but they failed to speed up. The price reached close to the $0.1549 level but remained below the 100 hourly simple moving average.

More moves were contracting below the $0.1500 and the $0.1550 resistance levels, and it even tested the 50 percent fib retracement level of the recovery wave from the previous $0.1280 low to the $0.1549 high. There is another major contracting triangle forming close to the $0.1485, according to the charts of the XRP/USD pair. Ripple XRP faces another resistance on the upside forming near the $0.1485 and the 100 hourly SMA. A successful break above the $0.1485 level and the $0.1500 level could open a way for a decent upward move. At the same time, the next resistance level awaits at the $0.1550 level above which the price will eventually test the main $0.1700 resistance area.

If the ripple price fails to surpass the $0.1485 and the $0.1500 resistance levels, and it could start a downside break while the critical support is close to the $0.1400 level. The back support is close to the $0.1384 level and represents 61 percent of the Fib retracement level from the recovery level of the previous $0.1280 low. If there is another downside break below the $0.1384 level, there could be a risk of further decline in the upcoming sessions. The next majority support level is seen at the $0.1300 level.