Ripple is currently correcting higher from the $0.1783 low against the US Dollar. XRP price is showing positive signs, but it must surpass $0.1850 to continue higher.
- Ripple slowly gaining traction and it is trading above the $0.1800 level against the US dollar.
- The price is facing a couple of strong hurdles near the $0.1840 and $0.1850 levels.
- There was a break above a major bearish trend line with resistance near $0.1825 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair must settle above the $0.1850 resistance to move further into a bullish zone.
Ripple Price is Facing Hurdles
Ripple price followed a bearish path in the past few days and traded below the $0.1900 support, similar to bitcoin and Ethereum. XRP even broke the $0.1850 support and settled below the 100 hourly simple moving average.
A new weekly low was formed near $0.1783 before the price started an upside correction. It recovered above the $0.1800 level to move into a short term positive zone. Besides, there was a break above the 23.6% Fib retracement level of the downward move from the $0.1900 high to $0.1783 low.Ripple price trades above $0.1800. Source:The bulls are facing a couple of strong hurdles near the $0.1840 and $0.1850 levels. The 50% Fib retracement level of the downward move from the $0.1900 high to $0.1783 low is also near the $0.1842 level to act as a resistance.
Therefore, XRP price must settle above the $0.1850 resistance and the 100 hourly simple moving average to move further into a bullish zone.