- XRP made a compelling move from $0.3040 but upside capped at $0.32.
- Ripple bulls have to forge a persuasive move above $0.3208 critical hurdle.
Ripple struggles to secure credible support above $0.31 after $0.32 proved to be the absolute ceiling in the near-term. Just like other leading digital assets like Bitcoin and Ethereum, XRP made a compelling move from yesterday’s support at $0.3040. A higher-high pattern was achieved upon stepping above the moving averages. However, the resistance at $0.3200 remains unconquered resulting correction to $0.3152 (current market value).
According to the confluence detector tool, the buyers must brace themselves for a battle of their lives. Initial resistance lies at $0.3175 as highlighted by the converging SMA 100 15-mins, Bollinger Band 15-mins, SMA 10 1-D, Previous Low 4-h, SMA 4-h, and the Bollinger Band 1-h Middle.
If cleared, the bulls have to forge a persuasive move above the next hurdle at $0.3208 as highlighted by SMA 10 15-mins, SMA 5 15-mins, previous low 1-h, previous high 4-h and the previous high 15-mins. Glancing higher, more resistance holds at $0.3241, $0.3373 and the rock-solid resistance at $0.3406.
In the event, an upside breakout fails and Ripple starts to press against support levels, the first stop would be at $0.3110. The various indicators hosted here include SMA 50 1-h, SMA 10 1-h, BB 1-h lower, Fib level 38.2% 1-D and SMA 200 15-mins. Other tentative support areas range from $0.3044, $0.2978, $0.2945 and $0.2847.