Ripple’s XRP Price Prediction: XRP/USD bulls eyed fast $0.40 return - confluence detector
- Double-digit gains for Ripple’s XRP on Monday, as the bulls return to the market.
- There isn’t too much in the way of big barriers, looking via the daily confluence detector.
Ripple’s XRP enjoying decent run higher in the session on Monday. Double-digit gains, as the cryptocurrency market wide rallies. This coming after a recent bottom area, which saw the price hovering around for around 10 days, within a narrow range.
Looking via the daily confluence detector, there isn’t too much in the way of strong barriers. Starting with the nearest the upside, $0.3255, which is last week’s high. Further to the north, $0.3387, which is a weekly pivot point.
For greater upside, bulls need to break out of the current range block. XRP/USD is heading towards the upper part of this, sitting at the $0.3200 mark. A breach out from this seven session range, could open the door for a fast move back into $0.40 territory.
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.
