Ripple Breaks A Significant Resistance Level And Rails Above $0.33

Ripple is in our altcoin news of the day for breaking the resistance level at $0.3050 and slowly going above $0.33. This bullish movement has created a path for even more gains above $0.38.

XRP gained bullish momentum after breaking the $0.3000 resistance level and a formed a breakout pattern at $0.34. Ripple could even correct further before it starts a major upward move.

Yesterday, the altcoin showed a significant resistance near $0.300 and $0.3020 right when the buyers managed to push all of the cryptocurrencies higher including the price of Ethereum, Bitcoin and Ripple.

If you take a look at all of the charts available on multiple websites, XRP/USD pair broke the important $0.3000 level and later on continued above the $0.3020 opening a slight opportunity for a bullish break. The price rapidly broke both the resistance levels.

Ripple even managed to set above $0.3400 briefly but it corrected later at $0.33. A weekly high was formed at $0.35 but as said earlier, the price is still correcting lower. XRP managed to break the 23.6 percent Fib retracement level of the recent high.

There is another short-term breakout pattern around the support level at $0.3450 but it seems like the price could break the support level and decline further towards $0.3230 support level. The 61 percent Fib retracement level of the recent wave up to $0.3370 could act as an even stronger supporter.

If XRP declines further, the price might find a new support level at $0.3200.