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Ripple price is slowly recovering, but struggling to gain momentum above $0.2800 against the US dollar.The price is facing a lot of hurdles on the upside near the $0.2820 and $0.2840 levels.There is a key bearish trend line forming resistance near $0.2840 on the hourly chart of the XRP/USD pair (data source from Kraken).Both Ripple PriceLooking at the chart, ripple price is clearly facing a lot of important hurdles near the $0.2840 and $0.2850 levels. A clear break above the $0.2850 resistance might start a recovery towards the $0.3000 resistance area. If not, there is a risk of more losses below the $0.2750 and $0.2700 support levels.Technical IndicatorsHourly MACD – The MACD for XRP/USD is still moving in the bearish zone.Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently under pressure below the 50 level.Major Support Levels – $0.2750, $0.2700 and $0.2650.Major Resistance Levels – $0.2840, $0.2850 and $0.2910.
Author: Aayush Jindal
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