- XRP is still trading nearly 1% lower even after most of the crypto majors recover slightly.
- The XRP/USD pair is basing out and could test the 0.1500 level once again.
XRP/USD 1-hour chart
Ripple has consolidated between 0.1645 and 0.1232 after the extreme price fall over the last few weeks. After the base was formed there is an internal trendline that now could break to indicate 0.1500 could be tested. It seems like 0.1300 is the main support as even though price dipped below it quickly shot back up.
It is important to remember that the underlying trend on the higher timeframes is still bearish. This means that any long trades are more dangerous. Volume is also looking very flat compared to the selling phase so a break higher could be false unless the volume rises as the key resistance levels break.
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