- XRP saw a small 3% price rise over the past 24 hours after plunging by a total of 25% over the past 3-days.
- It failed to break resistance at $0.337, causing it to roll over and drop as low as $0.265
- Against Bitcoin, XRP dropped beneath the pivotal 3000 SAT support toward 2800 SAT.
Key Support & Resistance Levels
XRP/USD:
Support: $0.273, $0.264, $0.26.
Resistance: $0.3, $0.31, $0.317.
XRP/BTC:
Support: 2900 SAT, 2860 SAT, 2800 SAT.
Resistance: 3000 SAT, 3115 SAT, 3215 SAT.
XRP/USD: Ripple Reverses At $0.337 and Plunges Beneath $0.30
Since our last analysis, XRP failed to break $0.337 as it rolled over and dropped as low as $0.265. It regained some ground as it climbed above $0.29 but must pass $0.30 to continue higher.
The break back beneath $0.30 puts XRP in a tricky situation as the sellers and buyers continue to battle for control.
The move turned XRP neutral and it must break above to see some further gains.
XRP/USD. Source: TradingView
XRP Short Term Price Prediction
If the bulls climb from $0.29 and break $0.3, resistance lies at $0.31, $0.317, and $0.337. Beyond this, strong resistance is expected at $0.35.
Alternatively, if the sellers push lower, the first level of support lies at $0.273. Beneath this, support lies at $0.264 (200-days EMA), $0.26 (.618 Fib Retracement), and $0.245. Additional support is expected at $0.235.
The RSI plummetted toward the 50 level where it currently rests, showing indecision between the bulls and bears. It would need to break above 50 for a rebound to be seen. Luckily, the Stochastic RSI is primed for a bullish crossover signal which should help the bullish case.
XRP/BTC: XRP Breaks Beneath 3000 SAT – Can The Bulls Reclaim This Territory?
Against Bitcoin, XRP also suffered heavily after reversing at 3270 SAT and plummeting beneath 3000 SAT.
It found strong support at 2800 SAT as it reapproaches the 3000 SAT level.
XRP is also considered to be neutral against Bitcoin. It would need to break 3000 SAT and climb above the 200-days EMA to turn bullish again. A drop beneath 2800 SAT could potentially turn it bearish.
XRP/BTC. Source: TradingView
XRP Short Term Price Prediction
If the bulls bring XRP/BTC above 3000 SAT, resistance lies at 3115 SAT and 3215 SAT (200-days EMA). This is followed by additional resistance at 3270 SAT and 3375 SAT.
On the other side, if the sellers push beneath 2900 SAT, close support lies at 2860 SAT (100-days EMA) and then at 2800 SAT. Beneath this, additional support is expected at 2710 SAT and 2650 SAT.
Similarly, the RSI has found support at 50 as the bulls battle to regain possession of the market momentum. The Stochastic RSI is now quite ready for a bullish crossover signal but is approaching the setup.
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