Ripple’s XRP Price Analysis: If key demand fails to find buyers for XRP/USD, then chunky selling eyed – Confluence Detector
|- Ripple’s XRP nursing losses on Wednesday of over 2%, as the price fails to find buying interest.
- XRP/USD is flirting with a key demand zone, but not serving much in terms of attraction for the bulls.
Ripple’s XRP on Wednesday late in the session was seen nursing losses of around 2%, as the market bears remain in control. Despite the price flirting with a huge known buying area, it has failed to attract much interest.
The large buying area is seen tracking from $0.3000 down to $0.2500. XRP/USD can be seen heading for a retest of the December low area, $0.2800 mark. A failure to find buyers will be very punishing potentially.
Given the current demand zone failing to lift the price for now, it is worth noting some of the big barriers of support, seen via the confluence detector. Firstly; $0.2821, monthly pivot point support, $0.2669, monthly pivot point support, and then $0.2577 a weekly pivot point support.
XRP/USD daily confluence detector
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