XRP Price Analysis: XRP/USD $0.1600 break is the key for a near-term recovery

• XRP price is trading in positive territory, with gains of some 4.50% on Thursday.
• The tight conditions remain for XRP/USD, as has been the case for six sessions. 
• Periods of consolidation remain vulnerable to being sold by the bears. 

XRP/USD daily chart

The story remains the case via the daily for XRP, a narrow range;  the low at $0.1400, the high up at $0.1600.

XRP/USD 60-minute chart

Bulls struggling to breakdown resistance within the mid $0.1500 region, as price produces small evening star formation, demonstrating some loss of momentum. 

Spot rate:                   0.1553

Relative change:      +4.50%

High:                          0.1575

Low:                           0.1447