Ripple price prediction: XRP/USD hampered by strong resistance up front

Following a very bearish Thursday, XRP/USD opened up at $0.419 this Friday. Ripple, as with the rest of the crypto market, had a very bearish Thursday, as it crashed from $0.444 to $0.420, having achieved an intra-day high of $0.475 and a low of $0.40. The daily confluence detector shows that the price is not supported by any healthy support levels but has a lot of strong resistance levels up front.

Ripple daily confluence detector

As per the daily confluence detector, there are only two support levels of note at $0.4135 and $0.404. The confluences at those levels are:

• $0.4135: The nearest support level has the weekly 23.6% Fibonacci retracement level.
• $0.404: The strongest support level has weekly 38.2% Fibonacci retracement level.

The resistance levels are at $0.420, $0.422, $0.424, $0.430, and $0.432. The confluences at those levels are:

• $0.420: Daily 23.6% Fibonacci retracement level and 5-day simple moving average (SMA 5).
• $0.422: 1-week pivot point resistance 1.
• $0.424: 1-month pivot point resistance 2.
• $0.430: The strongest resistance level has the previous week high and daily 38.2% Fibonacci retracement level.
• $0.432: The second strongest resistance level has the 5-day simple moving average (SMA 5)