- Ripple’s XRP bitten by the bears in the session on Thursday, down some 4%.
- XRP/USD heading back towards the big psychological $0.3000 price mark.
Ripple’s XRP was seen nursing losses of some 4% in the latter part of trading on Thursday, failing to maintain the upside momentum gained on Wednesday. XRP/USD bulls ran out of much steam that was seen with the double-digit advance.
XRP/USD ran into a big known area of resistance, seen running from $0.3300-0.3400 price region. This has been very much the upper part of the narrow range through this month. The price has not convincingly been above this territory since 10th January, when it crashed to the downside.
In terms of big barrier of support looking via the daily confluence detector; $0.3029, daily 61.8% Fibonacci, $0.2932 weekly pivot point support. Aside from the noteworthy barriers of support, the chunky area of demand remains from $0.3000-0.2500.
XRP/USD daily confluence detector
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