XRP Indicators Signal Fresh Increase To $0.26 Level: Price Analysis

XRP indicators signal a fresh increase above the $0.26 level as it corrected lower from the $0.2640 but they found support near the $0.2510 against the US dollar. In today’s Ripple price news, we take a closer look at the price analysis.

Ripple remained well bid above the $0.2500 level and the $0.2510 support levels against the US dollar. The price is now above the $0.2550 resistance and the 100 hourly simple moving average. There was a break above the major bearish trend line with resistance near the $0.2555 on the hourly charts of the pair as it could likely continue higher if it clears the $0.2585 and the $0.2590 resistance levels. Over the past week, we saw a sharp increase in Ripple’s price above the $0.2500 resistance area and the price even surged above the $0.2600 resistance and settled well above the 100 hourly simple moving average.

The cryptocurrency traded in a new monthly high near the $0.2640 before starting a downside correction with a break below the $0.2600 and the $0.2550 support levels. The bulls were able to defend the $0.2500 support zone as well. Ripple’s XRP traded to a new monthly high near $0.2640 before starting a downside correction. There was even a break below the $0.2600 and the $0.2550 levels but the bulls also managed to defend it. a new support base seems to be forming close to the said level as the price is now climbing higher. There was a break above the $0.2550 level with a break of the bearish trend line with resistance near the 2550 level with a break of the bearish trend line with resistance near the $0..
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2550 on the hourly charts of the pair.

The XRP indicators signal a new movement as XRP traded as high as $0.2590 and it is now correcting lower. It is testing the $0.2565 level and the 100 hourly simple moving average. The initial support is near the 50% fib retracement level of the increase at the $0.2518 low to the $0.2590 high. The next major support is near the broken trend line with the 61.8% fib retracement level of the increase at $0.2518 swing low to $0.2590 high. On the upside, the bulls are facing a minor hurdle at the $0.2590 level.

A successful break above the $0.2590 resistance could set the pace for another increase above the $0.2600 level with the next key resistance being near $0.2620. the first key support for ripple is close to the $0.2550 level and the broken trend line but a successful break below the $0.2500 support could put a lot of pressure on the bulls. In the stated case, the price could decline to the $0.2450 support level.