Ripple (XRPUSD) makes a technical break above 0.50

Well, it could not do it yesterday and it could not do it overnight, but earlier this morning Ripple (XRPUSD) made a break above $0.50 and that upside move has extended to as high as 0.5419. The move higher comes as the leading alt coin clearly manages to gain more courage to recover some of the really heavy losses it suffered on February 1. Now the break above 0.50 today was actually a technically led move because it was in fact a move above an important Fibonacci resistance level that was in place at 0.4987. That price point represented a 38.2% retracement of the move down from 0.7547, to the low the following day at 0.3404, set on February 2. The next level of note in this respect is the 50% retracement and that comes into play at 0.5475. Perhaps no surprise then to see the current rise today stalled just short of that level. Therefore, it remains to be seen if that price point will now cap the upside for the rest of the session today. If it does not, then the next level comes in at 0.5964. XRPUSD is currently trading at 0.5210