Ripple price prediction: XRP/USD bulls surrender $0.30 – Confluence Detector
- XRP/USD bulls failed to hold the ground above $0.30.
- The further sell-off looks likely as long as thee price stays below the critical level.
Ripple’s XRP recovered from the recent low of $0.2900 to trade at $0.2940 by press time. Thee third digital coin with the current market value of $12.7 has lost about 2.2% in recent 24 hours and stayed unchanged since the beginning of the day. A sustainable move below $0.30 bodes ill for XRP bulls in the short run.
Read also: MoneyGram and On-Demand Liquidity customers driving surging XRP volumes to Mexico
Ripple’s XRP confluence levels
Looking technically, $0.30 remains the pivotal level for XRP/USD. The coin has been moving back and forth for several days amid growing indecision on the market. Currently, several strong technical barriers cluster both above and below the price. Let's have a closer look at them.
Resistance levels
$0.2970-$0,3000 - this resistance includes several technical barriers, such as 23.6% Fibo retracement daily and weekly and a host of short-term SMA (Simple Moving Average) levels, SMA100 one-hour, SMA10 four-hour, SMA5 daily, the middle line of four-hour Bollinger Band
$0,3100 - the highest level of the previous week
$0,3170 - Pivot Point one-day Resistance 2, Pivot Point one-month Resistance 1
Support levels
$0.2930 - SMA200 one-hour, SMA40 four-hour
$0.2880 - 38.2% Fibo retracement weekly
$0,2730 - 61.8% Fibo retracement weekly, Pivot Point one-day Support 3.
Author
Tanya Abrosimova
Independent Analyst
