Ripple is currently in recovery mode with the price starting to gain momentum above $0.3. The price may recover higher in short-term and will likely face the resistance between $0.31 and $0.32.
Ripple formed a new support around $0.29 and started to recover above $0.3. The coin is currently in a positive zone and likely to show more recovery against USD. As the price is moving upwards there are quite a few supports between $0.29 and $0.3 which are helping the price to recover.
As long as the support above $0.29 is robust, the price will recover more. The key resistance is at $0.31 and Ripple may try to break this point in short-term and will likely move above this range if the buyers remain in pace. In the monthly chart, however, Ripple is still in a bearish zone and may not be able to recover back to its monthly high for a long time. Ripple is currently trading at $0.30801 whereas the monthly high is above $0.52 which is nearly impossible to reach in short term.
Note: The following article is not a financial advice and only depicts the viewpoints of the writer. The readers are advised to do their own research and analysis before investing or trading in any digital assets such as XRP.
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