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Daily Discussion Thread 02/28/21 [Join FlareXRP Discord] - discord.gg/7Bv2rYf
Ripple's XRP attempting to clear key major hurdles. A clear above initial resistance could put bulls back in control.
Christian Lagarde of IMF says Ripple XRP adoption is close

Daily Discussion Thread 02/28/21 [Join FlareXRP Discord] - discord.gg/7Bv2rYf

Posted: 27 Feb 2021 09:00 PM PST

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Ripple's XRP attempting to clear key major hurdles. A clear above initial resistance could put bulls back in control.

Posted: 27 Feb 2021 12:51 PM PST

After a successful close above the daily 100-Simple moving average, Ripple's XRP USD price has started to slow steady increase. The daily 100-SMA is acting as strong support for the XRP USD pair.

Currently traded (XRP USD Live chart) at $0.4485 (as of this writing), the XRP is trading above the 23.6% Fib retracement level of the downward move from the $0.6515 swing high to $0.3650 swing low and attempting to clear key major hurdles.

It is testing to break above the 38.2% Fib retracement level at $0.4750. If there is an upside break above this initial resistance zone, the bulls could be back in control.

The next resistance for XRP price is at $0.5085, followed by $0.5425.

https://preview.redd.it/4hdzu9zj13k61.png?width=945&format=png&auto=webp&s=31c00153e5cd2a880c48087520a1faceddd995a4

$0.5425 is the major resistance and may put a lot of pressure on the bulls to clear. It is at the 61.8% Fib retracement level of the downward move from the $0.6515 swing high to $0.3650 swing low. If the upward momentum continues, the 4hour 100-Simple moving average could also head towards the $0.54 mark in the following sessions, acting as a strong resistance zone.

A break above the $0.54 mark could push the XRP USD price to retest $0.65.

Dips supported in XRP?

If the Ripple XRP USD pair fails to clear the $0.475 resistance, it could continue to move down with first major support near the $0.4325 - a daily 100 Simple moving average.

A downside break below the daily 100 simple moving average level may pull down the price to retest the $0.35 support.