Ripple price traded higher recently against the US Dollar and Bitcoin. XRP/USD is currently supported above $1.2500 and is preparing for the next move.

There was a minor upside reaction in Ripple price from the $1.1000 swing low against the US Dollar. The price gained momentum and it was able to move above the $1.2500 and $1.3500 resistance levels.

It traded close to the $1.4000 level and formed a high at $1.3962. During the upside move, there was a break above a major bearish trend line with resistance at $1.2250 on the hourly chart of the XRP/USD pair.

Later, a downside correction was initiated from $1.3962. The pair moved below the 23.6% Fib retracement level of the last wave from the $1.1125 low to $1.3962 high.

On the downside, there is a major support near $1.2500. There is also a bullish trend line positioned with support at $1.2500. Read more from…

thumbnail courtesy of