Ripple is holding a couple of important supports near $0.2800 against the US Dollar. XRP price is currently testing a crucial resistance near $0.2980, above which it could rally significantly.
- Ripple is trading above the $0.2800 and $0.2850 support levels against the US dollar.
- The price is showing positive signs, but it is facing a huge barrier near the $0.2980-$0.3000 zone.
- There is a key bullish trend line with support near $0.2810 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
- The pair is likely to start a strong increase if it clears $0.2980 and the 100 simple moving average (4-hours).
Ripple Price Is Testing Major Barrier
After a sustained downward move, ripple found support near the $0.2800 region. A low is formed near the $0.2790 level and XRP price is currently correcting higher.
There was an upside break above the $0.2850 and $0.2900 resistance levels. The price even climbed above the 23.6% Fib retracement level of the downward move from the $0.3274 high to $0.2790 low.
There is also a key bullish trend line with support near…