- XRP/USD bulls try to keep the price above $0.29.
- Strong technical levels clustered around the current price keep XRP in a tight range.
Ripple’s XRP has been hovering marginally above $0.2900 since the previous week, after a collapse below $0.3000 handle. At the time of writing. XRP/USD is changing hands at $0.2922. Thee third digital coin with the current market value of $12.6 has stayed mostly unchanged both on a day-to-day basis and since the beginning of Monday. A sustainable move below $0.29 will bode ill for XRP bulls in the short run.
Ripple’s XRP confluence levels
Looking technically, $0.29 the key support for XRP/USD. The coin has been sitting in a tight range for several days amid growing indecision on the market. Currently, several strong technical barriers cluster both above and below the price. Let’s have a closer look at them.
Resistance levels
$0.2930 – SMA50 (Simple Moving Average) one-hour, SMA100 four-hour, the middle line of the daily Bollinger Band, the highest level of the previous 1-hour interval
$0.2970 – SMA50 four-hour, SMA200 one-hour, SMA10 daily
$0.3000 – psychological level, 61.8% Fibo retracement weekly, Pivot Point one-day Resistance 2
Support levels
$0.2900 – 38.2% Fibo retracement daily, 23.6% Fibo retracement daily and weekly
$0.2850 – Pivot Point one-day Support 2, the lowest level of the previous week
$0,2700 – 61.8% Fibo retracement monthly.
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