Ripple Price Prediction: XRP/USD vulnerable to downside correction - Ripple confluence
- XRP/USD bulls retreated from a resistance zone of $0.1800.
- Important support is created by the psychological barrier of $0,1600.
Ripple (XRP) has been the best-performing altcoin out of top-20 in recent 24 hours, The coin tested $0.1800 during late Thursday hours and managed to settle above $0.1700 on Friday. Ripple's total market capitalization is registered at $7.5 billion, while an average daily trading volume reached $2.3 billion.
Ripple confluence levels
There are a lot of strong technical barriers clustered both above and below the current price, which means, XRP may be prone to range-bound trading. However, the way to the South looks like a path of least resistance at this stage.
Resistance levels
$0.1760 - the highest level of the previous week, the lower line of 4-hour Bollinger Band, the lowest level of the previous year
$0.1830 - Pivot Point 1-day Resistance 1
$0.1880 - Pivot Point 1-month Support 1
Support levels
$0.1650 - Pivot Point 1-day Support 1, SMA50 1-hour SMA200 15-min, 23.6% Fibo retracement
$0.1600 - SMA100 1-hour, SMA100 4-hour, SMA5 daily, the lower line of 2-hour Bollinger Band
$0.1540 - Pivot Point 1-day Support 2
XRP/USD, 1-day
Author
Tanya Abrosimova
Independent Analyst
