Rajarshi Mitra
Independent Analyst
- XRP/USD is currently trading for $0.37, its highest since January 10, 2019.
- Confluence Detector shows a lack of any significant resistance levels till the $0.40.
XRP/USD shot up from $0.31 to $0.37 over the last two days as the crypto market as a whole enjoyed a bull run. If the bulls can continue the momentum, XRP/USD may breach the $0.40 for the first time since December 25, 2018. The daily confluence detector shows a lack of any significant resistance levels until $0.40.
XRP/USD daily confluence detector
XRP/USD bulls face a moderate stack of resistances between $0.374 - $0.37. The confluences at those levels are - 15-min Bollinger band upper curve, daily pivot point resistance 1, 15-min previous high, and monthly pivot point resistance 3.
The price currently has the following strong support levels: $0.355, $0.35, $0.3475 - $0.344, and $0.332-$0.328. The confluences at those levels are:
- $0.355: Monthly 161.8% Fibonacci retracement level.
- $0.35: Monthly pivot point resistance 2, daily 23.6% Fibonacci retracement level, and 50-day simple moving average (SMA 50) curve.
- $0.3475-$0.344: 15-min Bollinger band lower curve, hourly Bollinger band middle curve, weekly pivot point resistance 3, and daily 38.2% Fibonacci retracement level.
- $0.332-$0.328: Monthly pivot point resistance 1, SMA 200, SMA 50, Previous month high, weekly 161.8% Fibonacci retracement level, and SMA 10.
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