Ripple started an upside above the $0.2850 resistance area against the US Dollar. However, XRP price is still facing a couple of key hurdles near $0.3000 and $0.3080. Ripple price is currently correcting higher from the $0.2677 swing low against the US dollar. The price is trading above $0.2850, but it is still facing many key resistances. There is a key bearish trend line forming with resistance near $0.3000 on the hourly chart of the XRP/USD pair (data source from Kraken). The price struggle to continue above the $0.3000 and $0.3080 resistance levels in the near term. Ripple Price Near Crucial Juncture After a strong decline below $0.3000 and the 100 hourly simple moving average, ripple found support near the $0.2650 area. XRP traded as low as $0.2677 and recently started a steady recovery above the $0.2700 level. There was a break above the $0.2750 and $0.2800 resistance levels. Moreover, there was a break above the 23.6% Fib retracement level of the main decline from the $0.3470 high to $0.2677 low. The price even climbed above the $0.2950 resistance area. However, ripple is currently facing a strong resistance near the $0.3000 pivot level and the 100 hourly simple moving average. More importantly, there a key bearish trend line forming with resistance near $0.3000 on the hourly chart of the XRP/USD pair. Above the trend line, there is a key hurdle forming near the $0.3070 and $0.3080 levels. Ripple Price Besides, the 50% Fib retracement level of the main decline from the $0.3470 high to $0.2677 low is also near the $0.3080 area. Therefore, a successful close above the $0.3080 resistance area is needed for a strong rise in the coming sessions. If there is a clear close above $0.3080 and $0.3100, there are high chances of another rally towards the $0.3200 and $0.3320 levels. Another Failure? We cannot discard the chances of another failure near the $0.3000 resistance area and the 100 hourly SMA. In the mentioned case, the price is likely to continue lower towards the $0.2850 and $0.2800 levels. The main support for ripple is still near the $0.2650 area, below which the price could start a strong decline towards the $0.2500 pivot area in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is slowly moving in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently just above the 50 level, with a bearish angle. Major Support Levels – $0.2850, $0.2800 and $0.2650. Major Resistance Levels – $0.3000, $0.3070 and $0.3080.

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