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- XRP / USD holding decent gains late on Wednesday, up over 2.5%.
- Heavy supply remains heading into and around the $ 0.4000, this must be broken for greater upside.
Ripple's XRP was seen holding decent gains of some 2.5% towards the latter part of trading on Wednesday. However, the XRP / USD continues to remain stuck in a narrow range.
XRP / USD has really failed to hit the ground running since most recent bull run. Chunky gains were initially seen from December 16th to December 24th before easing. It may take some hard pressure against the $ 0.3000 mark.
Looking at the daily confluence detector, the next major barrier to the upside should be noted at $ 0.3964, which is a daily pivot point. Outside of this, bulls must breakdown the $ 0.4000 area for greater upside, or continue to be hit by sellers.
XRP / USD daily confluence detector
