- XRP/USD bulls failув to engineer a strong recovery above $0.30.
- The coin may extend the downside correction towards $0.2900.
Ripple’s XRP has been drifting down towards the support area at $0.2900 after another failed attempt to settle above $0.3000. XRP/USD hit the intraday high at $0.3149 only to retreat to $0.2970 by press time. Thee third digital coin with the current market value of $12.8 is down 2% on a day-to-day basis.
Ripple’s XRP confluence levels
Looking technically, $0.29 retains the stars of the key support level for XRP/USD. As long as it stays intact, the coin will continue moving in a recent range, waiting for new catalysts. Currently, several strong technical barriers cluster both above and below the price. Let’s have a closer look at them.
$0.2980 – SMA100 (Simple Moving Average) 1-hour, SMA10 daily, 23.6% Fibo retracement monthly
$0.3010 – SMA50 1-hour, SMA10 4-hour, 61.8% Fibo retracement weekly
$0.3100 – 38.2% Fibo retracement daily, Pivot Point 1-week Resistance 1, the upper line of 4-hour Bollinger Band
$0.2900-$0.2880- psychological level, the lower line of 4-hour Bollinger Band, SMA200 4-hour, 38.2% Fibo retracement monthly, 161.8% Fibo prediction daily
$0.2800 – SMA100 daily, the lower line of the daily Bollinger Band
$0.2700 – 61.8% Fibo retracement monthly.