Ripple broke below the 20-day EMA on Dec. 27 but has bounced back sharply from the support at $0.33108. We anticipate another attempt by the bulls to break out of $0.40.
If successful, the XRP/USD pair can rally to the resistance line of the descending channel. Though $0.45 will act as a resistance, we expect it to be crossed this time.
Contrary to our expectation, if the price turns down from $0.40 and plunges below $0.33108, a retest of $0.286 and $0.24508 is probable. We should see a decisive move within the next 3-4 days.