Ripple’s XRP price prediction: XRP/USD bulls eyed fast $0.50 return - Confluence detector
- Ripple’s XRP is holding big gains of over 6.5% late in the session on Wednesday.
- XRP/USD bulls have managed to settle above $0.4000 price territory, after some initial trouble.
- The next major barrier to breakdown will be $0.4500-0.4600 region, ahead of $0.5000 return.
Ripple’s XRP caught some large buying in the session on Wednesday. The price was seen holding chunky gains of 6.5% in the latter part of the day. XRP/USD is trading at the highest levels seen since 26th December 2018.
XRP/USD ran up to a high area and a level of resistance that capped upside on 21-22nd November and as noted on 26th December. This is the next major area of interest for the bulls to breakdown.
In terms of the key levels to note via the daily confluence detector, to the upside; $0.4679, monthly pivot point resistance, $0.4815, daily pivot point resistance. To the downside; $0.4454, daily pivot point support, $0.4273, monthly 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.
