XRP price is showing signs of a decent upside

XRP price is showing signs of a decent upside

XRP price climbed higher recently above the $0.2450 and $0.2500 resistances against the US dollar.
The XRP price is currently trading near the $0.2620 resistance area and is consolidating gains.
There was a breakout above a major bearish trend line pattern with resistance near $0.2415. "XRP price is showing signs of a decent upside"

XRP price is showing signs of a decent upside

The XRP price might correct a few points, but it is likely to test the main $0.2650 resistance in the near term.
Ripple XRP price is showing signs of a decent upside correction against the US Dollar and bitcoin. XRP price could continue higher level, but the $0.2650 resistance holds the key.

Ripple XRP Price Analysis

After a strong decline, the ripple XRP price started consolidating above the $0.2320 level against the US Dollar. The XRP traded in a range and recently started a decent upward move above the $0.2400 resistance area. Moreover, the XRP price broke the key $0.2420 resistance area and the 100 hourly simple moving average (SMA) to start the recent upside correction.

During the price rise, there was a break above a major bearish trend line with resistance near $0.2415 on the XRP/USD pair. As a result, the pair surged above the $0.2500 and $0.2550 resistance level. XRP price is up around 10% in the past three sessions and it even tested the $0.2620 resistance area. An upside was formed near $0.2618 and the price is currently showing a lot of positive signs.

It drops a few points below the $0.2600 level and the 23.6% Fib retracement level of the recent fluctuation from the $0.2352 low to $0.2618 high. However, the price decline was limited and contained by the $0.2480 support level. Moreover, the 50% Fib retracement level of the recent wave from the $0.2352 low to $0.2618 high acted as strong support.

The XRP price is now trading with a positive bias above the $0.2500 level. If there is an upside break above the $0.2620 resistance area, the price could test the main $0.2650 resistance. A clear breakout upside the $0.2650 resistance area might set the pace for a larger upward move in the coming sessions. On the downside level, the key supports are near the $0.2480 and $0.2450 levels

Looking at the chart, the XRP price is trading nicely above $0.2500. However, the XRP bulls need to gain strength above the $0.2620 and $0.2650 resistance levels to push the XRP price further higher in the near term.

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