Monday, October 25

Ripple (XRP) Price Analysis: XRP Bulls Fight to Defend 2020 Tops

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XRP is up 7% in the last 24 hours as it tries to defend its 2020 highs at $0.8282.

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Key Support Levels: $0.828, $0.8, $0.75.
Key Resistance Levels: $0.92, $1.00, $1.05.

Last week, XRP dropped below an ascending triangle pattern after falling below $1.00, according to analysis by Yaz Sheikh of Crypto Potato. During the week, XRP dropped to $0.8 but struggled to close every daily candle above the 2020 high at $0.8282. It is currently struggling to climb above the 20-day MA, around $0.92, which will be the first resistance to be overcome as a sign that the bulls are trying to reverse.

xrpusd jun14

XRP-USD Short Term Price Forecast

Looking ahead, the first level of support is $0.8282. It is followed by $0.8, $0.75 (0.786 Fib), and $0.7 (200-days MA). On the upside, the first resistance is located at $0.92 (20-day MA). It is followed by $1 (100-days MA), $1.05 (bearish 0.382 Fib), and $1.20 (50-days MA).

The RSI has been consistently below the midline throughout June 2021, suggesting that the bears are in full control of the momentum. However, it hasn’t dropped far below the 40 level, suggesting that the bears haven’t been able to increase their momentum so far.

XRP-BTC Short Term Price Prediction

Looking ahead, if sellers continue below 2200 SAT, initial support lies at 2052 SAT (long term 0.886 Fib and 100-day MA). This is followed by 1900 SAT (July 2020 low) and 1800 SAT (200-day MA).

On the other hand, initial resistance is located at 2260 SAT. It is followed by 2415 SAT (bearish 0.236 Fib), 2500 SAT (20-day MA), and 2662 SAT (bearish 0.382 Fib and 50-day MA).

The RSI is deep in the bearish zone here, suggesting that the sellers are in full control of the market momentum. There’s still room for more to go before the market oversold, suggesting that prices could continue to drop from here.

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