Ripple Analysis XRP Recovery Falls back

• Ripple price failed to hold gains above the $0.3120 and $0.3100. supports against the US dollar.
• The price tested the $0.3060. support and it is currently trading near the $0.3100 pivot level.
• There is a key contracting triangle in place with resistance at $0.3110 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair could either dip sharply below $0.3060 or it may rise above the $0.3110 and $0.3120 resistances. newsbtc

Ripple Analysis recovery falls back

Ripple Analysis Ripple is trading at the narrow end of the contracting triangle pattern. This means that we can expect a breakout in the short-term. Especially if the current bullish momentum can clear the immediate resistance both the 50 SMA and the 100 SMA 15-minutes. XRP buyers must clear the resistance at $0.32 in order to open the door for more gains towards $0.35. However, XRP/USD is still in danger of dropping to $0.30. support and even test $0.28 support.

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