Ripple still stalling ahead of key resistance level

Since the last update here on the progress of Ripple (XRPUSD) the price has been on an upward trajectory. Of course the gains for XRP have been mostly delivered by further upside in BTC and Ether, but at the same time it has been the recipient of some good news in its own right too, not least from further potential usage of its network to deliver yet more payment and money transfer solutions. Notwithstanding that though, the rebound has been running into strong technical resistance ahead of $0.78. That is because it has not yet managed to vault above its 200 day moving average which has capped each and every high point since July 28. Indeed, it did just that last weekend too. That was particularly noticeable yesterday when the price absolutely nailed the level, but no more. The high yesterday was set at 0.7772 and that is exactly where the 200 day is again right now. The failure there led XRP back to as low as 0.7066 at the start of the Asian session today. However, it has rebounded sharply in the past few minutes, as it recovered all the way back to as high as 0.7735. It is a little below that level right now, but of course that 0.7772 level is the one to keep a close eye on again today. XRPUSD is just now trading at 0.7585