Ripple price prediction: Sideways trading starts all over again – Confluence Detector

  • Ripple retreats to the third position on CoinMarketCap as Ethereum reclaims the second spot.
  • An upside correction will be an uphill task with the initial resistance at $0.3044.

Ripple has lost the second spot on the market to Ethereum. XRP ascended to become the largest altcoin while Ethereum thinned in value. While Ripple was also affected by the selling pressure like all other cryptos, it was able to weather down the declines in a graceful manner.

The bullish wave on Friday 8, saw Ripple step above $0.3 but the upside is capped at $0.32. Ethereum, on the other hand, corrected higher from lows around $102 to highs slightly above $126. This move saw an increase in its market capitalization to the current $12.83 billion compared to Ripple’s $12.63 billion.

Ripple is seen changing hands at $0.30926 after recording losses of 1.86% on the day. It is immediately supported by the daily 23.6% Fibonacci retracement and the 15-minuted Bollinger Band Middle. If a reversal were to happen towards $0.3, the buyers will find another support at $0.3012; which is yesterday’s low as well as the 200-day Simple Moving Average (SMA) (1-hour range).

On the flipside, the correction to the upside will be an uphill task with the initial resistance at $0.3044 highlighted by the 4-hour 10 SMA as well as Bollinger Band Daily Middle. The next resistance target is at $0.3107 (previous high 4-hour chart). A breakout is expected after Ripple zooms above this level and could pave the way for growth towards $0.34 and the psychological resistance level at $0.4. Meanwhile, I expect Ripple to continue trading sideways above $0.30 with the upside limited at $0.32.

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD confluence detector shows lack of resistance and support levels

The hourly BTC/USD price chart shows us that the price dropped from $10,130 to $9,815 this Thursday. The bulls then gathered momentum before it picked up to $10,190, meeting resistance.

More Bitcoin News

Crypto market update: Bulls march back into the market after two straight days of bearish domination

Following two straight bearish sessions, the bulls roared back violently. Ethereum Classic and IOTA records double-digit profits after massively bullish day. Stellar is the only coin among ...

More Cryptocurrencies News

Ethereum Classic technical analysis: ETC/USD went up by 17.58% this Thursday

Ethereum Classic has strung together three bullish days in a row. This Thursday has been extremely bullish, wherein the price has gone up from $6.15 to $7.22 this Thursday. 

More Ethereum Classic News

LTC/BTC: Litecoin finally finds some support but how long will it last?

BTC/LTC has moved higher on the 30-min timeframe and is now in a retracement phase. The price has stopped just before the 38.2% Fibonacci level and the 0.0072 support zone.

More Litecoin News


Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast