Rajarshi Mitra
Independent Analyst
- XRP/USD continued its sluggish sideways movement this Thursday.
- XRP/USD has minimal scope of growth ahead.
XRP/USD has been trending sideways without any intriguing crests and troughs since the beginning of March. Despite ripple making great strides towards mainstream adoption, it doesn’t look like it has affected its price. As per the daily confluence detector, it doesn’t look like XRP/USD will face any growth any time soon.
XRP/USD daily confluence detector
XRP/USD has one support level at $0.309 with a confluence of the 4-hour previous low and weekly 61.8% Fibonacci retracement level.
The resistance levels are at - $0.311-$0.313, $0.315-$0.316, $0.3165-$0.3175, $0.319, and $0.321. The confluences at those levels are:
- $0.311-$0.313: SMA 50, 15-min Bollinger band, SMA 10, hourly previous high, SMA 5, monthly 61.8% Fibonacci retracement level, 4-hour Bollinger band lower band, daily 38.2% Fibonacci retracement level, 15-min previous low, and hourly previous low.
- $0.315-$0.316: Daily Bollinger band middle curve, SMA 100, and daily 61.8% Fibonacci retracement level.
- $0.3165-$0.3175: 5-day simple moving average (SMA 5), SMA 200, SMA 50, SMA 10, 4-hour Bollinger band middle curve, SMA 100, and weekly 38.2% Fibonacci retracement level.
- $0.319: No confluences detected.
- $0.321: Daily pivot point resistance 1 and weekly 23.6% Fibonacci retracement level.
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