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XRP latest technical analysis

BITFINEX:XRPUSD   XRP / U.S. Dollar
#1 Key Highlights:

* Ripple(XRP/USD) price surged 10%+ recently.\u2028
* It broke short-term downtrend line(black).\u2028
* Resistance level $0.32+ tested and now in correcting phase.\u2028
* Possible S/R flip in play.\u2028

#2 Chart Analysis:

If we see the XRP technical analysis today for hourly (4H) time frame chart, it has broken the short-term downtrend line developed since start of February month.

Ripple technical analysis today shows that it has also broken the 200H-MA(Moving Average) and is now resting on it.

If we further do XRP analysis then one can observe that it touched the ichimoku cloud resistance but couldn't close above which is slightly bearish .$0.3158 price level will act as immediate resistance, if broken, then it will be bullish for the asset.
Ripple analysis today on 4-Hour chart shows that Stock-RSI has moved to overbought zone as well as MACD is slowly curving up to the bullish zone.
Further ripple price analysis illustrated that if the present potential S/R flip doesn't occur then next level of support will be around $0.3000-$0.2976 which needs to hold up for bullish sentiments.

#3 Conclusion

Overall, Ripple(XRP/USD) needs to hold certain support level to sustain bullish momentum otherwise it would be bearish mid term for the asset.
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