Ripple price (XRP) is seen to recover after testing the $ 0.55 support level.
Prices are seen to have broken the resistance levels of $ 0.57 and $ 0.58 before entering the bullish short-term zone.
Ripple assets have traded above $ 0.6 and hit the 100 simple moving average (SMA100) in the 1 hour timeframe.
This makes the XRP price face major resistance around $ 0.61 and $ 0.62.
Price movements near the resistance levels of $ 0.61 and $ 0.62 open up a chance for a sharp surge.
If the XRP value passes the $ 0.62 resistance, it is not impossible for the price to reach the $ 0.65 resistance level on the continuing rise. Any subsequent surge will bring the price to the $ 0.68 zone.
However, the opposite will happen if Ripple fails to pass the resistance levels of $ 0.61 and $ 0.62 which will cause a sharp decline.
The previous support level on depreciation was around $ 0.6. Key support is also seen around $ 0.58.
At the time of writing XRP was trading at $ 0.59, down 0.61% from the record high, $ 0.61.
