Ripple is struggling to gain momentum above the $0.1640 and $0.1650 resistances against the US Dollar. XRP price must stay above the $0.1580 support to continue higher in the near term.

  • Ripple price is facing a lot of hurdles near the $0.1640 and $0.1650 levels against the US dollar.
  • The bulls could gain strong momentum if there is a clear break above $0.1650.
  • There is a major bullish trend line forming with support near $0.1600 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The price could trade in a range before the next major move either above $0.1650 or towards $0.1500.

Ripple Price is Consolidating

In the past few hours, ripple made a couple of attempts to surpass the $0.1640 and $0.1650 resistance levels. XRP price is currently consolidating in a range below $0.1650 and it seems to be setting up for the next move.

The recent low was near $0.1574 and the price is currently moving higher. There was a break above the $0.1600 level and the price is holding the 100 hourly simple moving average.

On the downside, there is a major bullish trend line forming with support near $0.1600 on the hourly chart of the XRP/USD pair. The current technical structure for ripple is…



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Author: Aayush Jindal

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