Ripple bounced sharply from $0.27 on September 18 and broke out of the 20-day EMA. Currently, it is facing resistance at the 50-day SMA.
If the bulls break out of the 50-day SMA, the next resistance is at $0.37390. The downtrend line is also located just above this level. If the XRP/USD pair sustains above the downtrend line, we can expect the trend to change from down to up.
If buying dries up at higher levels, the virtual currency might spend some more time inside the range of $0.27–$0.37390. Though the bounce from the lows is a positive development, we shall wait for additional evidence before suggesting any trades on it.
Source