Ripple Price Prediction: XRP/USD paralyzed between stacks of resistance and support areas – Confluence Detector
|- Ripple price settles above $0.15 continuing with the stability witnessed over the weekend.
- A breakout above the narrow range resistance at $0.16 could go a long way in launching XRP in a trajectory towards $0.20.
Ripple is among the cryptocurrencies that have exhibited an ability to remain stable following last week’s cryptocurrency market crash. XRP/USD dived to $0.10 but reversed immediately, stepping above $0.14. The weekend session was characterized by formidable gains as the bulls pulled the price close to $0.16. Although a break above $0.16 did not materialize, Ripple bulls have been keen on defending the support at $0.15.
Meanwhile, the price is trading at $0.1502 with the seller congestion at the 23.6% Fibonacci retracement level taken between the last drop from $0.348 to a swing low of $0.10 becoming a hard nut to crack. The prevailing trend has a bearish bias, besides the RSI is stuck under 30 (oversold territory). If the 50-day SMA crosses below the 200 SMA, another breakdown could see XRP/USD retest the support at $0.10.
XRP/USD daily chart
Ripple price key confluence levels
Resistance one: $0.1535 – As highlighted by the SMA five 4-hour, the previous high 4-hour and the Bollinger Band 15-mins upper curve.
Resistance two: $0.1613 – Converging in this zone is the 38.2% one-week and the Fibonacci 23.6% one-day.
Support one: $0.1456 – The zone is home to the previous low one-day, the BB one-day lower curve and the pivot point one-month support two.
Support two: $0.1425 – The zone is playing host to the BB 4-hour lower and the Fibonacci 23.6% one-week.
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.