The big drop yesterday produced a new test of the Cloud from which the pair bounced like a hand on a hot plate. Ichimoku is widely used in Asia, and confident big buyers along with some parts ofthe crowd, had their buy orders placed sat to sat with the upper Cloud, despite the bundle of untraded pivots just below. The current hourly chart of the XRP/USD is looking heavy but if one likes to swap to BTC, using this particular timeframe, Ripple is still bullish the bitcoin. Only if price close below the upper Cloud, things will change and trend will turn neutral, with a likely return to the previous spike low and possibly the lower Cloud and the untouched pivots. But just by looking at the current bounce from the Cloud, the advance is hesitant. Ripple Bulls would like to see a strong candle closing above the white Kijun Sen line to shake off yesterdays plunge.
Overall, price made a sharp correction to test the Cloud, found support and is now slowly advancing higher even though the previous candle close was a shooting star type of candle, showing seller strength towards the Kijun Sen.