Ken Chigbo
Independent Analyst
- XRP/USD trading up with minor gains of 0.5% in the latter part of Tuesday.
- A lack of commitment from either bulls or bears remains to be the case.
Ripple’s XRP in the latter part of Tuesday’s session was seen trading up with minor gains of just some 0.50%. It has been a generally muted and range-bound session for XRP/USD, as the markets continues to await a committed and firm new direction.
XRP/USD remains within the confinements of a bullish pennant pattern structure. The lack of positive big developments from the Ripple foundation, relating to XRP, has not assisted with giving enough reasoning to the bulls to shoot north.
Looking via the daily confluence detector, there isn’t too much in the way of drastic upside barriers. Of note; $0.3812, weekly pivot point resistance, $0.3850, daily pivot point resistance, lastly $0.3927, monthly 61.8% Fibonacci.
XRP/USD daily confluence detector
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