- XRP/USD failed to hold the ground above $0.1900.
- An important local support is created by 4-hour SMA200.
Ripple (XRP) has recovered from the recent dip to $0.1783, but the further recovery is limited. The third digital asset tested $0.1853 during early Asian hours and settled at $0.1830 by press time. A failure to regain ground above $0.1900 in the nearest future will be interpreted as a bearish signal for short-term traders. Ripple’s total market capitalization is registered at $8.4 billion, while an average daily trading volume reached $2.0 billion.
Ripple confluence levels
There are a lot of strong technical barriers clustered both above and below the current price. The current technical situation implies that XRP is vulnerable to range-bound trading with a bearish bias. However, the sentiments may change, depending on the momentum on the global markets.
$0.1900 – 38.2% Fibo retracement weekly 1-hour SMA50, 4-hour SMA50, 1-hour SMA200, daily SMA10
$0.1950 – the highest level of the previous day
$0.2000 – Pivot Point 1-day Resistance 2.
$0.1780 – 4-hour SMA200
$0.1830 – 38.2% Fibo retracement monthly, Pivot Point 1-week Support 2
$0.1790 – 161.8% Fibo projection weekly