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- It is just a matter of time before XRP breaks above $ 0.4.
- The primary support rests at $ 0.3512.
Although Ripple's XRP finally gave the same amount of money as Bitcoin and Ethereum which have been over 50% in the last three months. Ripple has weathered the losses quite well staying above position $ 0.3 most of the time from the drop to $ 0.28 last week.
Ripple price technical picture – Confluence Detector
At press time, XRP / USD is trading at $ 0.391. The ongoing bullish trend is likely to break above $ 0.4 in the short-term. Since Ripple has been trading higher and higher lows in the last three days since the recovery started on Monday. A break above the trendline resistance at $ 0.288 on the 4-hour timeframe chart, boosted further growth above both the SMA 50 and the 100 SMA (1-hour range).
Ripple's XRP is hammering on $ 0.40 hurdle while the relative strength is showing overbought levels. However, the bulls ignore the levels as their main focus is to come out of the past few weeks.
The 4-hour MACD has recovered from the negative zone and is still in progress. The indicator signal is at +0.0234, which shows that buying entries continue to increase the selling pressure in the market. As mentioned the RSI in the same range is at 76.56 while still heading upwards. XRP back above $ 0.4 and up.
The confluence detector tool provided by FXStreet shows that there will be slight resistance at $ 0.3998. A correction above $ 0.4 will remain relatively smooth above $ 0.41. However, the strongest hurdle and seller concentration zone is at $ 0.4201. On the flipside, the asset will find a weak support at $ 0.3836. The primary support rests at $ 0.3512.
Daily Confluence Detector
