Ripple’s XRP Price Prediction: XRP/USD rallies are not sustainable - Confluence Detector
|- Ripple’s XRP price in the second half of trading on Wednesday is trading in the red, nursing losses of some 2.50%, failing to sustain the upside momentum of Tuesday.
- XRP/USD remains within the mundane range of 2019, failing to find any committed direction, which continues to be the theme for the year.
Ripple’s XRP price on Wednesday in the second half of the session is trading with marginally in negative territory, with losses of just some 2.50%. The bulls have failed to capitalize on the gains seen on Tuesday, hope fades again for recovery.
XRP/USD has been having difficulty throughout the year of 2019, breaking out of the narrowing range. There was hope earlier in the month with upside momentum, however, this was very much short-lived, as the bears pushed the price back to the dry trading conditions, as detailed.
Looking via the daily confluence detector, firstly the barriers of support; $0.3163, weekly 61.8% Fibonacci. $0.3098, daily 38.2% Fibonacci, $0.3033, daily 61.8% Fibonacci. To the upside in terms of resistance; $0.3227, daily 50SMA and daily pivot point resistance, $0.3292, weekly and daily pivot point resistance.
XRP/USD daily confluence detector
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