Ripple's XRP price prediction: XRP/USD bulls are failing to capitalize on flag structure – confluence detector

  • Ripple’s XRP price is trading in the green marginally on Monday evening, up some 0.15%.
  • XRP/USD bulls have been plagued again by the stubborn supply around $0.4000 territory.

Ripple’s XRP price late in the session on Monday is holding minor gains of 0.15%. XRP/USD bulls have firmly reclaimed and moved back above the psychological $0.4000 territory, a known area of supply, which has proven to be of difficulty to break.

XRP/USD price action via the daily chart view continues to move within a bullish pennant structure. The price is gradually edging towards a breakout to the upside from the pattern, which could invite another wave of buying pressure. The bulls at present, however, are failing to capitalize on this noted strcuture. 

In terms of key technical levels via the daily confluence detector to be aware of, to the upside; $0.4323, monthly 23.6% Fibonacci, $0.4595, daily and weekly pivot point resistance. To the downside; $0.4278 daily 38.2% Fibonacci, $0.4188, weekly pivot point support, $0.4097, daily pivot point support.

XRP/USD daily confluence detector

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