SUMMARY: Ripple price picked up bullish pace above $0.3200 level. XRP is currently well supported at $0.3100 and it will likely move towards testing $0.3220 and $0.3300 levels.
Ripple price followed bitcoin this week and broke above $0.3100 resistance level to move into a positive zone. XRP was also able to break above $0.3220 resistance level. The bulls were able to move Ripple price above the 100 hourly SMA and $0.3350 level. XRP even tested the $0.3400 resistance level where a lot of sellers were placed and XRP started to correct downwards. Ripple price declined sharply and moved under the $0.3300 and $0.3200 support levels. XRP even tested the support at around $0.3050.
Currently, Ripple price is trying to gain momentum above the $0.3100 support level. The current resistance is around $0.3200 and $3220 levels above which XRP might test the $0.3300 and $0.3400 levels. Also, $0.3100 is currently acting as strong support below which Ripple price might test $0.3050 and $0.3000 levels. A bullish pattern is also being formed on the hourly chart with the support at around $0.3100.
The chart shows that Ripple price is currently well supported on the downside at $0.3100, $0.3050 & the 100 hourly SMA. As long as XRP is above the 100 hourly SMA, there are chances of a fresh bull run.