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Ripple Price (XRP) Eyes Fresh Increase While Bitcoin Rallies

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  • Ripple price is facing a strong resistance near the $0.2900 and $0.2920 levels against the US dollar.
  • Bitcoin price rallied recently and even broke the $10,600 and $10,800 resistance levels.
  • Yesterday’s highlighted bullish trend line is active with support near $0.2750 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair could decline a few points, but it remains supported above $0.2700.

Ripple price is currently correcting gains from $0.2920 against the US Dollar, while bitcoin jumped above $10,800. XRP price is likely to climb sharply if it clears the $0.2920 resistance.

Ripple Price Analysis

Yesterday, we saw a decent recovery in XRP price above the $0.2700 resistance against the US Dollar. The XRP/USD pair even climbed above the $0.2800 resistance and settled above the 100 hourly simple moving average. It opened the doors for more gains above the $0.2850 level. More importantly, there were decent gains in other altcoins, including Ethereum, EOS and litecoin.

However, ripple price faced a strong resistance near the $0.2900 and $0.2920 levels. A swing high was formed near $0.2918 and the price recently started a downside correction. It broke the $0.2850 support plus the 23.6% Fib retracement level of the recovery from the $0.2618 low to $0.2918 high. Finally, the price found support near the $0.2750 and $0.2760 levels.

Additionally, the price found support near the 50% Fib retracement level of the recovery from the $0.2618 low to $0.2918 high. More importantly, yesterday’s highlighted bullish trend line is active with support near $0.2750 on the hourly chart of the XRP/USD pair. The 100 hourly SMA is also following the trend line and is currently near $0.2720. Therefore, dips towards the $0.2750 and $0.2720 levels remain attractive to the bulls.

On the upside, the main resistances are near $0.2900 and $0.2920. An immediate resistance is near $0.2880 and a connecting bearish trend line on the same chart. A convincing close above the $0.2920 level might start another upward move towards the $0.3000 and $0.3050 levels. An intermediate resistance is near the $0.3020 level.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price is currently trading nicely above the $0.2750 and $0.2720 support levels. Therefore, there are chances of a fresh increase above the $0.2880 and $0.2920 resistance levels. Conversely, a successful hourly close below the $0.2700 support might negate the current bullish view in the coming sessions. The next key support is near the $0.2550 level.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is about to move back into the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently just below the 50 level.

Major Support Levels – $0.2750, $0.2720 and $0.2700.

Major Resistance Levels – $0.2900, $0.2920 and $0.3000.

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Crypto News

Bitcoin Makes a Drastic Fall; Goes Down to $9700

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  • Bitcoin loses 3.68% in the last 24 hours and falls below 10,000 USD.
  • In the short-term, BTC price may face pressure to surge if it falls even lower.

Bitcoin (BTC) has lost an enormous value over the last 24 hours. The 3.68% cut has pushed it 300 USD below 10,000 USD. There have been three major price swings, but the major decrement happened today in the initial hours. The price movements of Bitcoin are likely to aggravate further.

BTC to USD Price Analysis-

Bitcoin Price Chart
Bitcoin Chart by TradingView

Bitcoin’s first swing happened between 01:24 and 12:05 UTC and this swing cost it 168 USD and placed it at 10,095 USD. The second variation is also another series of weakening trend and it started at 12:29 UTC. Over the next 13 hours and 34 minutes, it fell to 10,088 USD.

However, the most effective of them was the third and the last variation which happened between 02:22 and 03:06 UTC, today. This variation took a major fall of 5.28% in just 44 minutes and pushed the value to 9,604 USD.

BTC Price Prediction-

The devaluation in the value of BTC against USD has left an immense impact on the overall crypto market. The overall condition of the market seems to be deteriorating in the coming days. BTC may have to seek support at 9000 USD soon.

Support & Resistance Levels-

R1- $10252.29, R2- $10306.34, R3- $10336.75

S1- $10167.83, S2- $10137.42, S3- $10083.37

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