Tanya Abrosimova
Independent Analyst
- XRP/USD is vulnerable to further losses as long as it stays below $0.2200.
- The nearest support is located on the approach to $0.2100.
Ripple’s XRP bottomed at $0.2103 during early Asian hours and recovered to $0.2147 by the time of writing. The third-largest digital coin has lost 2.5% since the beginning of Wednesday and stayed mostly unchanged on a day-to-day basis.
Ripple’s XRP confluence levels
Looking technically, XRP is vulnerable to further losses as long as it stays below $0.2200. If the bulls manage to engineer a sustainable recovery above this handle, the short-term technical picture will improve slightly, while the coin will get a chance for an upside move towards $0.2250. Currently, there are several important levels clustered both above and below the price. Let’s have a closer look at them
Resistance levels
$0.2230 - SMA200 1-hour, 61.8% Fibo retracement daily and weekly, the highest level of the previous day
$0.2300 - 23.6% Fibo retracement monthly
$0.2360 - the highest level of the previous week
Support levels
$0.2100 - 23.6% Fibo retracement weekly, the lower line of 1-hour Bollinger Band
$0.2020 - the lowest level of the previous month and the lowest level of the previous week.
$0,1880 - Pivot Point 1-week Support 2
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