Ripple Price Prediction: XRP/USD settles above $0.2400, still vulnerable to losses – Bitcoin confluence

• XRP/USD bulls pushed the price above $0.2400, but the upside momentum remains weak.
• Important support is created at a $0.2340 level below the current price.

Ripple (XRP) moved outside the recent range and settled above the critical resistance level. Despite the recovery of the cryptocurrency markets, the third-largest digital asset has failed to gain the upside momentum. XRP/USD stopped within a whisker of the next resistance of $0.2440 during early Asian hours and reversed to the downside.

XRP confluence levels

There are a lot of strong technical barriers clustered both above and below the current price, which means the coin may be range-bound in the nearest future. 

Resistance levels

• $0.2430 – 23.6% Fibo retracement daily, the middle line of 1-hour Bollinger Band
• $0.2450 – the highest levelof the previous day, the upper lines of 4-hour and 1-hour Bollinger Bands
• $0.2500 – Pivot Point 1-day resistance 2

Support levels

• $0.2400 – 23.6% Fibo retracement weekly, the lower line of 1-hour Bollinger Band, 61.8% Fibo retracement daily
• $0.2350 – Pivot Point 1-day Support 1, the lowest level of the previous day
• $0.2250 – The lowest level of the previous month and week.

XRP/USD, 1-day