Tanya Abrosimova
Independent Analyst
- XRP/USD may lose ground once $0.2200 gives way.
- The nearest resistance is located on the approach to $0.2250.
Ripple’s XRP is hovering around $0.22 handle during early European hours, locked in a tight range. The third-largest digital coin has lost 1.2% on a day-to-day basis and stayed unchanged since the beginning of Tuesday.
Read also: BitFlyer has added trading support for XRP
Ripple’s XRP confluence levels
Looking technically, XRP is vulnerable to further losses if the bears manage to engineer a sustainable sell-off below $0.2200 handle. This development will worsen the short-term picture for the coin and attract new speculative sellers to thee market. Currently, there are several important levels clustered both above and below the price. Let’s have a closer look at them
Resistance levels
$0.2230 - the middle line of 4-hour Bollinger Band, SMA50 (Simple Moving Average) and SMA200 1-hour, SMA50 4-hour, 61.8% Fibo retracement daily and weekly, 38.2% Fibo retracement daily
$0.2300 - 23.6% Fibo retracement monthly, the upper line of 4-hour Bollinger Band
$0.2360 - the highest level of the previous week
Support levels
$0.2150 - Pivot Point 1-day Support 1, the lower line of 4-hour Bollinger Band
$0.2100 - 23.6% Fibo retracement weekly, Pivot Point 1-week Support 1
$0.2020 - the lowest level of the previous month and the lowest level of the previous week.
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