Ripple price prediction: XRP/USD massively supported – Confluence Detector


  • Ripple gains have been consistent since the breakout above $0.4000.
  • The weakening uptrend could culminate in declines to the support at $0.4200.

Ripple continues on an upward roll following the correction from the support established a week ago at $0.3900. The gains have been consistent since the breakout above $0.4000 hurdle on Friday last week. XRP/USD climbed above various key levels at $0.4200, $0.4300 and $0.4400 and formed a high at $0.4426. The weakening uptrend culminated in declines to the support at $0.4200. There has been a correction with XRP stepping above $0.4300 but the price has been limited under $0.44.00.

Meanwhile, the confluence detector tool shows Ripple having an initial at $0.4353 (buyer congestion zone). The several indicators forming a confluence here are the SMA 10 15-mins, Previous high 15-min, Bollinger Band 15-min lower, previous high 1-h, SMA 5 1-h, and the 23.6% Fib level 1-D. A correction above this level is expected to face resistance at $0.4398 with Bollinger Band 1-h upper, previous high 4-h, BB 4-h upper, BB 15-min upper, Pivot Point 1-week R2 and the 161.8% Fibo 1-week.

On the downside, Ripple is massively supported with most of the former resistance turned into support areas. XRP/USD is initially supported at $0.4307 highlighted by the 5 SMA 4-h, SMA100 15-min, 38.2% Fibo 1-D and the BB 1-h middle. The confluence detector places strong support areas at $0.4217, $0.4127, $0.4082, $0.3902 and $0.3812.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin market update: BTC/USD revives the uptrend – Steps above $9,500

BTC/USD trading pair appears to have found support above $9,000. A rebound from the support has pulled above $9,500 amid a building bullish momentum across the market. 

More Bitcoin News

Ripple price analysis: XRP/USD defends falling wedge support; breakout still lingers

Ripple continued to press against key support areas yesterday. The downside momentum was augmented by the broad-based selling pressure in the market. As discussed yesterday, the upside was capped at $0.32 while XRP/USD sustained above $0.30. 

More Ripple News

Retail Investors Can Now Bet on Bitcoin Hitting $100,000 by 2020

This bullish bet on Bitcoin is the first crypto derivatives product open to mom and pop investors since LedgerX sealed approval from the U.S. Commodity Futures Trading Commission (CFTC) to serve as a designated contract market for clients of any size, as Cointelegraph reported in June. 

More Bitcoin News

Bitcoin Cash market update: BCH/USD edges its way towards $300

Bitcoin Cash is revamping the uptrend after falling victim to selling pressure for the second time in the same week. The initial drop towards the end of the last week culminated in a dive under $300 on Monday this week. 

More Bitcoin Cash News

Bitcoin Weekly Forecast: BTC bulls get ready for a major assault

The cryptocurrency market has been pretty volatile this week. Bitcoin stayed in the green zone despite wild price gyrations, while major altcoins are nursing double-digit losses on a week-on-week basis.

Read the weekly forecast

BTC

ETH

XRP