- 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.
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