Ripple price prediction XRP/USD bears unstoppable as the price slips under $0.2600 – Confluence Detector


  • XRP/USD bulls lose initiative was the price breaks below $0.2600.
  • The coin may extend the downside correction to $0.2500.

Ripple’s XRP extended the decline and touched $0.2571 during early Asian hours, which is the lowest level since November 15. At the time of writing, XRP/USD is changing hands at $0.2594, down 1.5% since the beginning of the day. A sustainable move below $0.2600 support bodes ill for XRP's short-term forecast, making it vulnerable to further losses. 

Read also: Ripple’s Xpring is just getting started: Develops new XRP mainstream adoption strategies

Ripple’s XRP confluence levels 

Looking technically, XRP is hovering around pivotal $0.26, which is important for the short-term forecast. The longer, the coin hovers around this barrier, the worse is the technical picture. Currently, there are several important levels clustered both above and below the price; however, the way to the South seems to be the path of least resistance now.
  
Let’s have a closer look at the technical levels that may serve as resistance and support areas for the coin.

Resistance levels

$0.2660 - the upper line of 4-hour Bollinger Band
$0.2700 - the lowest level of the previous week
$0.2870 - 38.2% Fibo retracement monthly and weekly

Support levels

$0.2590 - the lower lines of Bollinger Bands on a daily chart, 1-hour chart, 4-hour chart and 15-min chart
$0.2510 - the lowest level of the previous year, Pivot Point 1-week Support 3
$0.2430 - the lowest level of the previous month, Pivot Point 1-week Support 2.

fxsoriginal

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.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Breaking: Bitcoin breaks new yearly highs; the road to $15,000 is clear

Bitcoin (BTC) broke above the local resistance created by $13,250 and hit a new high of 2020 at $13,490. The pioneer digital asset is poised for further growth as the upside momentum gains traction amid little resistance from sellers.

More Bitcoin News

XRP looks poised for a breakout to $0.30

XRP is currently trading at $0.252 after successfully defending a critical support level at $0.247. In the past two weeks, the digital asset has been rejected from the upper boundary of the daily ascending triangle around ten times.

More Ripple News

Breaking: JPMorgan's digital currency, JPM Coin, is ready for commercial use

JPMorgan Chase announced that its digital currency, JPM Coin, had been used for commercial purposes this week. A large technology client used it to send cross-border payments.

More Cryptocurrencies News

The network’s utility increases, while TRX prepares for a massive price movement

TRON's weekly report is out and talks about the finalization of the TRC-20 shielded contract on the mainnet and a security test for the smart contract on TVM instructions to stake and unstake.

More Tron News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: Bitcoin goes up as some of the world's largest currencies go down

While investors are waiting for BTC to retest all-time highs and shoot to the moon, it is already there. In some countries, the pioneer digital asset surpassed the peak of 2017 and hit new historic highs in local currencies.

Read the weekly forecast

BTC

ETH

XRP