Ripple started a strong rise after forming a base above $0.2550 against the US Dollar. XRP price is currently rallying and it is likely to continue higher towards $0.3500.
Ripple is up over 15% and it showing a lot of positive signs above $0.3000 against the US dollar.
The price broke many hurdles near $0.2880 and the 100 simple moving average (4-hours).
There was a break above a crucial contracting triangle with resistance near $0.2825 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
The pair is likely to accelerate higher towards the $0.3400 and $0.3600 resistance levels in the near term.
Ripple’s XRP Price is Gaining Momentum
In the past few days, ripple’s XRP price formed a strong support base above $0.2550 and $0.2650. As a result, the price started a strong increase and broke many important hurdles near $0.2800 and $0.2820.
There was also a break above a crucial contracting triangle with resistance near $0.2825 on the 4-hours chart of the XRP/USD pair. It opened the doors for more gains above the $0.3000 level and the 100 simple moving average (4-hours).
Source: XRPUSD on TradingView.com
The price cleared the 50% Fib retracement level of the downward move from the $0.3685 high to $0.2589 low. XRP is up over 15% and it outperformed bitcoin and ethereum.
An immediate resistance is near the $0.3420 zone. It is close to the 76.4% Fib retracement level …
