XRP Holds Strong At $0.30 Enhancing The Upside Possibility: Analysis

XRP holds strong at $0.30 still trading in a positive zone above the $0.2920 support zone against the US dollar. The price is likely to continue higher if it manages to clear the $0.3055 resistance zone so let’s find out more in the latest Ripple XRP news.

Ripple gained bullish momentum and traded above the $0.2920 pivot level against the USD and the price is now trying to clear the $0.3055 trading above the 100 hourly SMA. There’s also a key bullish trend line that is forming close to the $0.2960 level for the pair which could start a strong increase once it surpasses the main $0.3055 resistance zone. After forming a support base close to the $0.2750 XRP started a fresh upward move and the price even broke the $0.2850 and $0.2920 resistance zones which led the asset into the positive zone.

XRP holds strong above this level as the bulls are seemingly facing an uphill task close to the $0.3055 and the $0.3060 level. The recent high was formed close to the $0.3074 and the price is consolidating the gains.
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It dropped below the 23% Fib retracement level from the $0.2299 low to the $0.3074 swing high so it seems like the price is holding a few important zones. There’s also a key bullish trend line that was forming close to the $0.2960 support line on the hourly charts of the pair while below the trend line the 100 hourly SMA is close to the $0.2950. The main support is forming to the $0.2920 level.

On the upside, Ripple faces another resistance close to the $0.3055 which is a successful close above the $0.3055 and the $0.3060 which could open the doors for a stronger rise in the upcoming session. There’s also a crucial support base forming close to the $0.2920 level so if ripple fails to stay above 2920 level so if ripple fails to stay above $0..
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2920 it could test the 50% fib retracement level from the $0.2299 low to the $0.3074 swing high. Another loss could spark a downside and break the price to the downward trend to $0.2810 support levels.

The hourly MACD for the XRP/USD pair is moving in the bullish zone while the RSI for the pair is above the 50 levels. The biggest support levels include $0.2960, $0.2950, and $0.2920.