- XRP saw a nice 1% price hike today as the coin edges back toward $0.20.
- It has been trying to reclaim $0.2 for the past 10-days but has failed on each attempt.
- Against Bitcoin, XRP continues its recovery as it found strong support at 2100 SAT.
XRP/USD: XRP Bulls Struggling To Reclaim $0.2
Key Support Levels: $0.192, $0.18, $0.175.
Key Resistance Levels: $0.20, $0.21, $0.215.
At the start of July 2020, XRP rebounded from the support at $0.175 (.5 Fib Retracement) as it pushed higher to reach the $0.21 level. However, from there, XRP dropped back beneath $0.20 and has struggled to reclaim the level ever since.
Luckily, the buyers have managed to defend the support at $0.192 (.382 Fib Retracement), which has prevented XRP from heading toward the July lows again. For a bullish run to ignite, the cryptocurrency must break above $0.20 and surpass the resistance at $0.21 (200-days EMA).
XRP-USD Short Term Price Prediction
Looking ahead, if the sellers do push lower, the first level of support is found at $0.192 (.382 Fib Retracement). Beneath this, added support lies at $0.18, $0.175 (.5 Fib Retracement), and $0.171.
On the other side, if the buyers break the $0.2 level, resistance is expected at $0.21 (200-days EMA(, $0.215, and $0.225 (bearish .5 Fib Retracement).
The RSI recently rebounded from the 50 line, which is a good sign as it shows that the bulls are unwilling to give up their control of the market momentum.
XRP/BTC: XRP Finds Strong Support At 2100 SAT
Key Support Levels: 2100 SAT, 2071 SAT, 2050 SAT.
Key Resistance Levels: 2200 SAT, 2250 SAT, 2300 SAT.
Against BTC, XRP started July off by rebounding at the 1900 SAT level as it continued to push higher until it met resistance at 2250 SAT (Bearish .236 Fib Retracement). From there, XRP started to grind lower until it found support at 2100 SAT.
XRP must break above 2200 SAT for a bullish recovery to form in this market. If it was to break back beneath 2100 SAT, then XRP might be unwinding again back toward 1900 SAT.
XRP-BTC Short Term Price Prediction
Moving forward, if the bulls push higher from 2100 SAT, the first level of resistance lies at 2200 SAT (200-days EMA). Above this, resistance is found at 2251 SAT (bearish .236 Fib Retracement) and 2300 SAT.
On the other side, the first level of support lies at 2100 SAT. Beneath this, support is found at 2070 SAT, 2050 SAT, and 2000 SAT.
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