Ripple Price Prediction: XRP/USD hampered by immediate resistance stacks
- XRP/USD plummeted from $0.321 to $0.301 this Wednesday.
- The price may potentially tumble down further to $0.291.
XRP/USD crashed down from $0.321 to $0.301 this Wednesday, as the entire crypto market took a massive hit. The daily confluence detector shows us that the price may go down further till $0.291 before it meets any significant support.
XRP/USD Daily Confluence Detector
The confluence detector shows us resistance levels from $0.302 - $0.303, $0.3095, and $0.3125. From $0.302 - $0.303, the confluences detected are 15-min previous high and monthly 38.2% Fibonacci retracement level. At $0.3095 we have the daily pivot point support 3. Finally, at $0.3125 we have the monthly 61.8% Fibonacci retracement level.
On the downside, the support levels are at $0.2960-$0.2970, $0.292, and $0.29-$0.291. From $0.29-$0.291, we see a confluence of the monthly pivot point support 1. At $0.292 we have the weekly 161.8% Fibonacci retracement level. Finally, from $0.2960-$0.2970, we have the monthly 23.6% Fibonacci retracement level and weekly pivot point support 2.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
