Rajarshi Mitra
Independent Analyst
- XRP/USD price has gone down from $0.314 to $0.309 this Friday.
- Daily confluence detector shows no possible support line until $0.2985.
XRP/USD price went down this Friday from $0.314 to $0.309. Further growth looks difficult as the daily confluence detector shows significant stacks of resistance up ahead. Worryingly enough, the bears may have a field day over the weekend as there are no strong lines of support.
XRP/USD daily confluence detector
The resistance levels in the XRP/USD daily confluence detector are $0.31, $0.311-$0.314, $0.315, $0.3155-$0.3165, $0.3174, and $0.3184-$0.32. The confluences at those levels are:
- $0.31: Weekly 23.6% Fibonacci retracement level.
- $0.311-$0.314: Hourly previous high, 200-day simple moving average (SMA 200), monthly 61.8% Fibonacci retracement level, 4-hour Bollinger band lower curve, SMA 5, daily pivot point support 1, 4-hour previous low, SMA 50, SMA 10, hourly Bollinger band middle curve, and SMA 100.
- $0.315: SMA 5 and SMA 100.
- $0.3155-$0.3165: SMA 200, SMA 10, SMA 50, and 15-min Bollinger band upper curve.
- $0.3174: Weekly 38.2% Fibonacci retracement level and daily 38.2% Fibonacci retracement level.
- $0.3184-$0.32: Daily Bollinger band middle curve, SMA 100, and daily 61.8% Fibonacci retracement level.
There are no strong support lines. The only prominent one is at $0.2985 which has a confluence of - Previous week low.
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