- Ripple’s XRP in the latter part of trading on Monday was nursing minor losses of 0.80%.
- XRP/USD bears are retesting the upper part of a triangular pattern structure, which was breached to the upside last week.
Ripple’s XRP late in the session on Monday was nursing losses of some 0.80%, flirting with the $0.3200 mark to the downside. XRP/USD had initially started the session with some minor gains, but the bulls quickly lost upside momentum.
XRP/USD price is set to retest a breached triangular pattern structure, after previously breaking out from this on 15th March. XRP is currently running at its second consecutive session in the red, failing to capitalize on the noted pattern breakout.
Given current downside momentum, eyes are on the next big barriers of support via the confluence detector. Firstly; $0.3140, daily pivot point support, weekly 38.2% Fibonacci, $0.3108, weekly pivot point support and 61.8% monthly Fibonacci. In terms of upside, there is a chunky barrier noted at $0.3206, daily 38.2% Fibonacci and daily 5SMA.
XRP/USD daily confluence detector
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