Ripple Price Prediction: XRP/USD set for another potential $0.3000 retest – Confluence Detector

Ripple’s XRP price on Friday in the second part of the session holding very modest gains of some 0.30%.
XRP/USD remains vulnerable to losing the $0.3000 status if the bulls fail to regather upside.

Ken Chigbo Independent Analyst

Ripple’s XRP price on Friday in the second half of the session is trading in the green ever so marginally by some 0.30%. XRP/USD are bulls are attempting to find some stabilization, after facing a beating on Thursday.

XRP/USD on Thursday lost a big double-digits, selling pressure was seen across the cryptocurrency market. Near-term support is comforting the price around $0.3200, failure to hold could see $0.3000 retested to the downside again.

Looking via the daily confluence detector, firstly the barriers of resistance; $0.3309, daily 23.6% Fibonacci, $0.3343 daily 38.2% Fibonacci. To the downside in terms of support; $0.3241, daily 50SMA, 100SMA and daily pivot point support, $0.3172 daily pivot point support.

XRP/USD daily confluence detector

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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