XRP Holds Above $0.240, Bulls Could Start Fresh Rally Above $0.25

XRP holds above the $0.240 price level as it found support near the $0.2320 and recovered against $0.2380 against the US dollar as we can see in the latest Ripple price news.

The price is now trading above the The price is now trading above the $0..
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2400 resistance and the 100 hourly simple moving average. There was a break above the key bearish trend line with the resistance close to the $0.2400 on the hourly chats of the pair. The pair could also continue higher if it clears the $0.2420 resistance zone. Over the past week, there was a sharp decline in Ripple below the $0.2400 support area and the price even broke the $0.2350 support with the 100 hourly simple moving average. It traded as low as $0.2310 and started a solid recovery wave. There was also a break above $0.2380 resistance with the 50% fib retracement level from the downward movement at $0.242 high to $0.2310 low. What is most importantly there was a break above the key bearish trend line with the resistance close to $0.2400 on the hourly charts of the pair.

The price is now trading above the $0.2400 resistance and the 100 hourly simple moving average. The initial hurdle on the upside is close to the $0.2420 level while the next resistance is close to the 76.4% fib retracement level from the downward movement at $0.2472 high to $0.2310 low. If there’s a clear break above the $0.2420 and the $0.2450 resistance levels, there’s a high risk of more upsides to the $0.2480 and the $0.2500 resistance levels. The first key support for Ripple is close to the $0.2400 level with the broken trend line while the next support is forming at $0.2380 as XRP holds above it.

A successful break below the $0.2380 support level could put immense pressure on the bulls so the price could even revisit the $0.2320 support zone. The hourly MACD for the pair is losing momentum in the bullish zone while the hourly RSI for the pair is above the 50 levels. The major support levels include $0.2400, $0.2380, and $0.2320 while the major resistance levels include $0.2420, $0.2450, and $0.2500.

As previously reported, The price was trading well above the $0.2500 and the 100 simple moving average with a crucial declining channel forming close to the $0.2540 on the 4-hour charts of the pair. The pair could rally 8-10% if it clears the key $0.2550 resistance in the near term. After the strong upward move in Bitcoin, there was a strong increase from the $0.2440 support as XRP broke the $0.2480 and the $0.2550 resistance levels to move into the positive zone.