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  • Ripple started the week gasping for air in the sea of red.
  • For a sustainable upward movement, XRP/USD must break above the immediate critical resistance at $0.3149.

Ripple started the week gasping for air in the sea of red. The short sharp declines send it tumbling to test the support at $0.3. However, the price reversed the trend defending the support as well as scaling the levels at $0.3040, $0.3060 and $0.3080. At present, the price has made it above $0.31 but the path to higher levels will be an uphill task.

Ripple price technical confluence detector levels

According to the technical confluence detector tool, for a sustainable upward movement, XRP/USD must break above the immediate critical resistance at $0.3149. The confluence at this level includes the 50-day Simple Moving Average (SMA) daily chart, the 5-day SMA daily chart, the 100-day SMA 1-hour chart, the previous high in the daily range and the pivot point 1-day R1.

Other resistance levels that will limit the gains are $0.3182- $0.3246 and $0.32780.3311:

$0.3182- $0.3246: The confluence at this level includes the 38.2% Fib retracement level weekly char, the 10-day SMA daily chart, the 100-day SMA 4-hour range, the Bollinger Band 4-hour upper curve, the pivot point 1-day R1 and the 161.8% Fib level on the daily chart.

$0.32780.3311: The confluence at this level includes the 38.2% Fib level 1-minute chart, the pivot point 1-day R3 and the 61.8% Fib level on the weekly chart.

A correction above this level will remain undeterred and could open the door for gains above $0.34 and eventual break above the stubborn hurdle at $0.35.

As far as support zones are concerned, Ripple has a couple of support areas to look out for and they include $0.3085 and $0.2859 – $0.2891.

$0.3085: The confluence at the support are the 5-day SMA 1-hour chart, the 10-day 15′ chart, the Bollinger Band 15′ middle curve, the previous low 15′ range, the previous high 1-hour range, the previous high 4-hour chart and the 5-day 15′ chart.

$0.2859 – $0.2891: The confluence includes the pivot point 1-week S3 and the PP 1M S1.