The value of XRP recently plunged falling below $0.376 and $0.3708 support level, but a possible turn around on the upside trend might soon be experienced, northing the price of the altcoin as close as reaching $0.039 resistant level.
Within a space of one hour, Ripple’s XRP value dipped from the $0.376 to $0.3708 against the US dollar, depicting a break below the $0.375 resistance level.
XRP price might again return on the upside trend after a previous one in the later part of yesterday for a price around $0.039.
In the last few hours, XRP price tested the $0.038 resistance level against dollars before plummeting. Even though the trade pair XRP/USD dripped beyond the $0.0372 support level once in the 24 hours chart, the trend maintained by the trade pair depicts an imminent recoil power for the altcoin.
Looking at the chart, it is evident that XRP has formed a support level near $0.0372, as its value continues to surge, testing the $0.0375 resistance level twice today.
XRP broke the 20.2% Fib retracement level, bouncing back upward from $0.0372 low. A break above the short term channel with resistance at $0.0372 on the hourly chart signals push toward $0.39 and the 100 hourly SMA.
If XRP breaks above the $0.375 and $0.376 resistance level, the altcoin is clear on an uninterrupted solid upward path.
Even though the price of the altcoin seems to have failed to gain enough momentum in the last 10 hours after the latest decline, buyers looks to be in control of the value, and this will certainly help push up the price as the altcoin dip is around dead end.