Ripple price analysis: Confluence detector shows a lack of healthy resistance and support levels
|- Ripple is currently priced at $0.259.
- Confluence shows two stacks of support levels on the downside.
Ripple is currently trending in a flag formation and is priced at $0.259. This Thursday, the bulls kicked in after the price fell to $0.242 and took the price up to $0.264. The hourly price chart shows us that the price found support at $0.254 and went up to $0.265 where it met resistance and fell down. Eventually, they managed to break past it and went up to $0.267, met another resistance and fell to $0.259.
XRP/USD daily confluence detector
The only resistance level of note is at $0.265, which has the 1-week pivot point support 2. On the downside, we have two stacks of support from $0.258-$0.259 and $0.250-$255. $0.258-$0.259 stack has the 1-day Fibonacci 38.2% retracement level while the $0.250-$255 stack sees a confluence of the 1-day 61.8% Fibonacci retracement level and the previous year low.
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