- XRP/USD bulls are losing initiative as the coin slips back to $0.30.
- The critical resistance is created by $0.31 handle.
Ripple’s XRP is hovering at $0.3000 with the bearish momentum gaining traction. At the time of writing, XRP/USD is moving along the upside trend line from September 26 low. A sustainable move above this barrier will negate the short-term bullish scenario.
Ripple's market value is registered at $13.1 billion. The coin has gained 2% on a day-to-day basis.
Read also: Ripple price analysis: XRP/USD looks to consolidate its position above the $0.30 zone
Ripple’s XRP confluence levels
Looking technically, $0.30 is the pivotal level for XRP/USD. The coin has been moving back and forth for several days, while the attempts to settle above the critical handle proved to be futile. Currently, several strong technical barriers cluster both above and below the price. Let's have a closer look at them.
$0,3000 - $0.3100 - resistance area packed with technical barriers, including 61.8% and 38/2% Fibo retracement daily, the middle line of one-hour Bollinger Band, the upper line of four-hour Bollinger Band;
$0,3100 - the upper boundary of the resistance range is strengthened by the upper line of the daily Bollinger Band, Pivot Point one-day Resistance 2, the highest level of the previous week
$0,3170 - Pivot Point one-day Resistance 2, Pivot Point one-month Resistance 1
$0.3270 - SMA200 (Simple Moving Average) daily, the highest level of the previous month
$0.2950 - Pivot Point one-day Support 1, the lowest level of the previous day
$0.2880 - 38.2% Fibo retracement weekly
$0.2730 - SMA50 daily, 61.8% Fibo retracement weekly.
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