Key HighlightsRipple price is gaining momentum and is currently trading above the $1.0500 support against the US dollar. There is an ascending channel forming with support at $1.0000 on the hourly chart of the XRP/USD pair (data source from SimpleFx). The pair may continue to rise in the short term towards the $1.12 and $1.15 levels. Ripple price is slowly gaining upside momentum against the US Dollar and Bitcoin. XRP/USD could continue to rise and it may even test the $1.15 level. Ripple Price Upside MoveThere are decent bullish signs above $0.9500 in Ripple price against the US Dollar. The price started a slow and steady rise from the $0.9190 low and moved above the $0.9500 and $1.0000 resistance. It was successful in breaking the 50% Fib retracement level of the last decline from the $1.1755 high to $0.8398 low. It cleared the path for more gains and the price was able to move above the $1.05 resistance. It recently tested the $1.09 and $1.10 resistance levels where the upside move paused. The main reason was the 76.4% Fib retracement level of the last decline from the $1.1755 high to $0.8398 low. Buyers failed to push the price above the $1.10 and later a consolidation phase was initiated. It seems like there is an ascending channel forming with support at $1.0000 on the hourly chart of the XRP/USD pair. The channel resistance is also near $1.10 and it acted as a barrier for more upsides. On the upside, a break above the $1.10 level could push the price towards the last high of $1.17. On the downside, the price remains supported above the $1.00 and $0.90 levels in the near term. Looking at the technical indicators:Hourly MACD – The MACD for XRP/USD is slowly gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well above the 50 level. Major Support Level – $0.9500Major Resistance Level – $1.1000 Charts courtesy – SimpleFX Ripple Price Technical Analysis – XRP/USD Grinding Higher was last modified: March 31st, 2018 by Aayush Jindal