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XRP Price Analysis. Recovery Begins

#Ripple #XRP
  • XRP price gains 1.5%
  • Stop Loss hunts as price heads to resistance levels
  • Stays within ascending trading channel

1 Hour XRP/USD price chart

After a recent drop in price XRP started its recovery by gaining 1.5% against the U.S. dollar in the last 24 hours. The price recently moved above $0.2800 trapping stop-loss orders above that level. The price now may possibly dip into the liquidity pool below $0.27650 before heading to the next resistance at $0.28600.

It worth to note that the recent price drop printed a low tail candlestick on 1-hour trading chart. The price then dipped below $0.27400 in another stop loss hunt with immediate pull back into consolidation. The overall prognosis is still bullish as XRP still continues to trade within the ascending trading channel on 1-day chart.

Chart source: Tradingview

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