- Bullish momentum could attack the previous high around $0.373 and extend the gains towards the coveted $0.4.
- The path of least resistance is to the upside according to the confluence detector tool.
The massive gains Ripple experienced yesterday saw it break above $0.33. The bullish wave in the market sent it above $0.370. The trend, however, turned bearish on failing to correct further towards $0.4. The market reversed the trend and XRP descended to lows around $0.3431. The correction was necessary for the continuation of the uptrend. XRP/USD is valued at $0.3645 after a 2.5% rise on the day.
The forming bullish momentum could attack the previous high around $0.373 and extend the gains towards the coveted $0.4. The confluence detector places the initial resistance at $0.3721 at the Bollinger Band 1-hour upper, pivot point 1-month R3 and pivot point 1-day R1. The next resistance levels are seen at $0.3797 and $0.3912.
The path of least resistance is to the upside according to the confluence detector tool. On the downside, XRP is strongly supported following the correction above key hurdles that have turned into support zones. The first support is seen at $0.3569, $0.3531, $0.3455 while the strongest support is seen at $0.3302.
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