XRP Price Moves Up On High Momentum

• XRP is up by 4%
• The price continues moving up within ascending channel
• Important resistance: $0.33

1 Hour XRP/USD price chart

XRP price is up by 4% in the last 24 hours and it continues its ascend. The resistance line at $0.30 was tested once more with immediate retracement to around $0.29500 price mark. The candlestick on one hour chart is yet to close and depending on its form it will be visible whether the price will go even higher on high momentum or will it retrace back into consolidation after tapping into liquidity at $0.30 level. So far we can see high tail forming on that candlestick which is a bearish signal, suggesting that XRP price trapped some stop losses at resistance and is now retracing back. However, it is best to wait for current and few next candlesticks to close to have a full picture.

The important support line is $0.2800 and XRP price is not expected to drop below that level unless we witness trend reversal. If the prices pushes above $0.30 line it is expected to meet next resistance at $0.33.

Chart source: Tradingview

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