Ripple Price Analysis: XRP/USD stalled below $0.2000, vulnerable to losses – Confluence Detector
|- XRP/USD bulls lose the short-term battle to the bears.
- Strong support is created at $0.1900, which is the lowest level of the consolidation channel.
XRP price stays in the middle of the range $0.1900-$0,2000 after a failed attempt to clear the pivotal barrier of $0.2000. The third-largest digital coin hit the intraday low at $0,1930 before recovering to $0.1950 by press time. The coin is locked in a tight range amid growing market uncertainty. XRP/USD has stayed mostly unchanged on a day-to-day basis and lost nearly 1% since the beginning of Tuesday. Notably, Ripple’s XRP slipped to fourth place in the global cryptocurrency rating. The third place is now occupied by Tether.
The intraday chart shows that the RSI stays flat with a mild bullish bias. It means that the coin may continue moving in a tight range below $0.2000.
XRP/USD 1-hour chart
Let’s have a closer look at support and resistance levels clustered around the current price.
Resistance levels
$0,1960 – 23.6% Fibo retracement daily, the middle line of the 1-hour Bollinger Band 4-hour SMA10 and SMA5
$0,2000 – 1-hour SMA200, 4-hour SMA50 and SMA100, daily SMA50 and SMA10
$0,2050 – Pivot Point 1-day Resistance 2, 4-hour SMA200
Support levels
$0,1930 – 38.2% Fibo retracement daily the lowest level of the previous four hours
$0,1890 – Pivot point 1-day Support 1, the lowest level of the previous day
$0,1740 – Pivot Point 1-month Support 1
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.