Ripple Price Analysis: XRP/USD Reverses From Key Support at $0.3120

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Key HighlightsRipple price found a strong buying interest around $0.3120 and recovered sharply against the US dollar.There was a break above a key connecting bearish trend line with resistance at $0.3340 on the hourly chart of the XRP/USD pair (data source from Kraken).The pair tested the $0.3550 resistance and is currently consolidating gains above $0.3200 .Ripple price reversed yesterday’s losses and gained traction against the US Dollar and Bitcoin. XRP/USD broke the $0.3350 level to move into a positive zone.Ripple Price Upside MoveYesterday, we saw a bearish reaction below the $0.3300 level in Ripple price against the US Dollar. The XRP/USD pair tested an important support area near $0.3120 where buyers emerged. A low was formed at $0.3125 before the price started an upside recovery. The price broke the $0.3300 resistance to start a decent recovery. Later, it cleared the 61.8% Fib retracement level of the last drop from the