XRP/USD has some potential for growth ahead - Confluence Detector
- XRP/USD has prominent resistance at $0.325 and has some potential for growth.
- The current price also has a stack of support lines below it.
XRP/USD is currently priced at $0.316 and is showing potential for growth. Daily confluence detector indicates that there is only one significant level of resistance at $0.325. The price also has a stack of support levels below which will help the bulls in pulling the price of the asset up.
XRP/USD daily confluence detector
The lines of resistance are at $0.322 and $0.325. The confluences at those levels are:
- $0.322: Previous day high.
- $0.325: Monthly 38.2% Fibonacci retracement level.
The support levels are at $0.315-$0.316, $0.311, and $0.309. The confluences at those levels are:
- $0.315-$0.316: 100-day simple moving average (SMA 100), SMA 5, daily 61.8% Fibonacci retracement level, hourly Bollinger band middle curve, SMA 10, 15-min Bollinger band middle curve, SMA 50.
- $0.311: Daily 38.2% Fibonacci retracement level and 4-hour previous low.
- $0.309: Daily 23.6% Fibonacci retracement level and monthly 23.6% Fibonacci retracement level.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
