Ripple’s XRP price prediction: XRP/USD bulls eyed fast $0.50 return - confluence detector
|- Ripple’s XRP on Tuesday in the second part of the session is holding decent gains of some 2.80%.
- XRP/USD bulls have seen a strong surgent of life, as they look to retest the high area of the month, with sights still on $0.5000 return.
Ripple’s XRP price in the second part of the session on Tuesday is holding gains just shy of 3%. The bulls managed to find some life again after an initial slow start to the day, XRP/USD was trading down some 2% at one point.
The upside pressure from the bulls, is seeing XRP/USD head back towards a retest of the May high area, around $0.4700. It appears to be the last major barrier in the way of a return to $0.5000 territory.
Looking via the daily confluence detector for major barriers of resistance and support. Firstly, to the upside; $0.4583, weekly pivot point resistance, $0.4675, monthly pivot point resistance. To the downside, $0.4396, daily 23.6% Fibonacci, $0.4210, monthly and weekly pivot point support, daily 61.8% Fibonacci.
XRP/USD daily confluence detector
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.