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  • Ripple price settles above $0.15 continuing with the stability witnessed over the weekend.
  • A breakout above the narrow range resistance at $0.16 could go a long way in launching XRP in a trajectory towards $0.20.

Ripple is among the cryptocurrencies that have exhibited an ability to remain stable following last week’s cryptocurrency market crash. XRP/USD dived to $0.10 but reversed immediately, stepping above $0.14. The weekend session was characterized by formidable gains as the bulls pulled the price close to $0.16. Although a break above $0.16 did not materialize, Ripple bulls have been keen on defending the support at $0.15.

Meanwhile, the price is trading at $0.1502 with the seller congestion at the 23.6% Fibonacci retracement level taken between the last drop from $0.348 to a swing low of $0.10 becoming a hard nut to crack. The prevailing trend has a bearish bias, besides the RSI is stuck under 30 (oversold territory). If the 50-day SMA crosses below the 200 SMA, another breakdown could see XRP/USD retest the support at $0.10.

XRP/USD daily chart

XRP/USD price chart

Ripple price key confluence levels

Resistance one: $0.1535 – As highlighted by the SMA five 4-hour, the previous high 4-hour and the Bollinger Band 15-mins upper curve.

Resistance two: $0.1613 – Converging in this zone is the 38.2% one-week and the Fibonacci 23.6% one-day.

Support one: $0.1456 – The zone is home to the previous low one-day, the BB one-day lower curve and the pivot point one-month support two.

Support two: $0.1425 – The zone is playing host to the BB 4-hour lower and the Fibonacci 23.6% one-week.

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