- XRP/USD retreated from the resistance created by a long-term trend line.
- A sustainable move below $0,2700 will negate the short-term positive forecast.
Ripple’s XRP touched $0.2858 during early Asian hours on Monday before retreating to $0.2780 by the time of writing. The third-largest digital asset with the current market value of $12 billion has gained nearly 5% in recent 24 hours and retained bullish bias after a 10%-ride to the North on Monday.
However, considering that the price has reversed from the sloping trendline from June 26 high (currently at $0.2850, the further upside may be limited at this stage.
Ripple’s XRP confluence levels
At the time of writing, XRP/USD bulls is hovering below $0.2800 hurdle. Looking technically, the upside looks like a path of least resistance now, provided that the price moves above the said trendline. Let’s have a closer look at the technical levels that may serve as resistance and support areas for the coin.
Resistance levels
$0,2850 – 61.8% Fibo retracements daily, the highest level of the previous 4-hour period, the sloping trendline from June 26 high;
$0,2900 – Pivot Point one-week Resistance 3;
$0,3000 – Pivot Point one-day Resistance 2, psychological level.
Support levels
$0,2700 – 38.2% Fibo retracement daily ;
$0,2630 – the middle line of four-hour and daily Bollinger Bands, the highest level of the previous week.
$0,2530 – the lowest level of the previous year, 38.2% Fibo retracement weekly.
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