Ripple’s XRP Price Prediction: XRP/USD chunky barriers in way of $0.40 – Confluence Dectector
- Ripple’s XRP holding gains of around 0.6% in the latter part of Tuesday.
- There are some chunky barriers in the way of a $0.4000 reclaim for the bulls.
Ripple’s XRP was seen trading up in positive territory, towards the latter part of Tuesday’s session. The bulls further capitalizing after the strong run of gains observed on Monday, which saw double digit advances.
Looking to the upside, there do appear to be some strong barriers to note, ahead of the reclaim of $0.40. 1 week pivot point, $0.3400, 161.8% Fibonacci 1 week, $0.3505 and then finally a daily and weekly pivot point at $0.3550.
XRP/USD has not traded within the $0.4000 territory since the back-end of November. There does appear to be supply around this area. This again was proven towards the back end of November, where the bulls faltered a recovery.
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.
