Ripple price prediction: XRP/USD glancing higher where immense resistance awaits – Confluence Detector
|- XRP made a compelling move from $0.3040 but upside capped at $0.32.
- Ripple bulls have to forge a persuasive move above $0.3208 critical hurdle.
Ripple struggles to secure credible support above $0.31 after $0.32 proved to be the absolute ceiling in the near-term. Just like other leading digital assets like Bitcoin and Ethereum, XRP made a compelling move from yesterday’s support at $0.3040. A higher-high pattern was achieved upon stepping above the moving averages. However, the resistance at $0.3200 remains unconquered resulting correction to $0.3152 (current market value).
According to the confluence detector tool, the buyers must brace themselves for a battle of their lives. Initial resistance lies at $0.3175 as highlighted by the converging SMA 100 15-mins, Bollinger Band 15-mins, SMA 10 1-D, Previous Low 4-h, SMA 4-h, and the Bollinger Band 1-h Middle.
Related content: Ripple quarterly sales shot 48% up amid soaring institutional interest
If cleared, the bulls have to forge a persuasive move above the next hurdle at $0.3208 as highlighted by SMA 10 15-mins, SMA 5 15-mins, previous low 1-h, previous high 4-h and the previous high 15-mins. Glancing higher, more resistance holds at $0.3241, $0.3373 and the rock-solid resistance at $0.3406.
In the event, an upside breakout fails and Ripple starts to press against support levels, the first stop would be at $0.3110. The various indicators hosted here include SMA 50 1-h, SMA 10 1-h, BB 1-h lower, Fib level 38.2% 1-D and SMA 200 15-mins. Other tentative support areas range from $0.3044, $0.2978, $0.2945 and $0.2847.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.