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$XRP PT .90-1.15 next leg up, momentum in up-trending channel for KRAKEN:XRPUSD by Breakout_Room

Ripple’s XRP slipped by 0.04% on Thursday. Partially reversing a 1.14% gain from Wednesday, Ripple’s XRP ended the day at $0.57008.
A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $0.59411 before hitting reverse.
Ripple’s XRP broke through the first major resistance level at $0.5900 before sliding to an early afternoon intraday low $0.54864.
Steering clear of the first major support level at $0.5390, Ripple’s XRP recovered to $0.57 levels to limit the downside.
At the time of writing, Ripple’s XRP was down by 0.27% to $0.56856. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.57270 before falling to a low $0.56828.
Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to move back through the $0.5709 pivot level to bring the first major resistance level at $0.5932 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.59 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $0.59411 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.62 levels before any pullback. The second major resistance level sits at $0.0.6164.

Failure to move back through the $0.5709 pivot would bring the first major support level at $0.5478 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of the 23.6% FIB of $0.5320. The second major support level sits at $0.5255.

Looking at the Technical Indicators

First Major Support Level: $0.5478
Pivot Level: $0.5709

First Major resistance Level: $0.5932

23.6% FIB Retracement Level: $0.5320

38.2% FIB Retracement Level: $0.4632

62% FIB Retracement Level: $0.3521

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