Ripple Price Analysis: Can XRP/USD Recover Above $0.88?
Moreover, the XRP/USD pair is currently attempting a break above a key bearish trend line with resistance at $0.0.8590 on the 2-hours chart. If the pair succeeds in closing above the trend line at $0.8590, there could be more gains.
However, there is a monster resistance on the upside near the $0.8800 level. The stated $0.8800 level acted as a buy zone previously, and now it is likely to act as a barrier for buyers.
Moreover, the $0.8800 level is also close to the 50% Fib retracement level of the last downside move from the $0.9797 high to $0.7851 low.
Therefore, a break and close above $0.8800 won’t be easy. If buyers succeed, the pair will most likely move further higher and it could even break the $1.00 level.
On the downside, the $0.8400 level is a short-term support. Below $0.8400, the price may test the $0.7850 level.
Trade safe traders and do not overtrade!