- XRP/USD broke below the lower border of the short-term consolidation channel.
- The strong support is created by $0.1650.
Ripple (XRP) has been range-bound with bearish bias ever since the price hit $0.1975 on April 18 on Monday; however, a strong sell-off pushed the price below the support level and created strong downside momentum. The price hit the low $01858 before recovering towards $0.1870 by press time. Ripple’s total market capitalization is registered at $8.4 billion, while an average daily trading volume reached $2.0 billion.
Ripple confluence levels
There are a lot of strong technical barriers clustered both above and below the current price. However, as the price breaks free from the range to the downside, the momentum may be violent.
Resistance levels
$0.1900 – daily SMA10, 4-hour SMA50, 1-hour SMA100
$0.1930 – 23.6% Fibo retracement weekly, 38.2% Fibo retracement daily, the middle line of the 4-hour Bollinger Band, the middle line of the 15-min Bollinger Band
$0.1980 – the upper line of 4-hour Bollinger Band, 61.8% Fibo retracement monthly
Support levels
$0.1830 – 38.2% Fibo retracement weekly, Pivot Point 1-day Support 2
$0.1780 – Pivot Point 1-day Support 3
$0.1650 – 38.2% Fibo retracement monthly, Pivot Point 1-week Support 2
XRP/USD, 1-day
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