Ripple Price Analysis: XRP Bounces Off Strong Support But Can It Surge Past $0.20?

  • XRP rebounded on the $0.18 assist this week nonetheless didn’t climb above the resistance at $0.20.
  • Against BTC, it is nonetheless on the bearish footing as a result of the momentum lies with the sellers.
  • The cryptocurrency stays the third largest endeavor with a whole market cap value of $8.40 billion.

Key Support & Resistance Levels

XRP/USD

Support:  $0.181, $0.17, $0.167. 

Resistance: $0.19, $0.20, $0.212.

XRP/BTC:

Support: 2600 SAT, 2530 SAT, 2455 SAT.

Resistance: 2750 SAT, 2900 SAT, 3000 SAT.

XRP/USD: Bounces From The $0.18 Support

The day-to-day chart reveals XRP rebounding from the assistance at $0.181, allowing it to climb elevated in the direction of $0.20. However, it is struggling to interrupt above $0.20, ensuing within the cryptocurrency to trade sideways all through the last few days. 

If XRP had been to reverse and drop beneath the assistance at $0.181, it may flip strongly bearish as soon as extra. For the cryptocurrency to show into bullish, it ought to break above $0.20 and proceed to create a up to date extreme above the December extreme at $0.2345. 

XRP Short Term Price Prediction

If the bulls start to push elevated above $0.20, preliminary sturdy resistance is positioned at $0.2120. This is adopted by resistance at $0.2280 and $0.2345 (December extreme). Above the December highs, further resistance is anticipated at $0.251, the place lies the 100-days EMA. Alternatively, in the direction of the draw again, preliminary sturdy assistance is anticipated at $0.1815. Beneath this, assist may be found at $0.17, $0.167, and $0.156. 

The RSI has been rising, which reveals that the sooner selling momentum is fading. However, the RSI is failing to get wherever near the 50 diploma, which reveals that the sellers are nonetheless not ready to give up their administration over the market momentum. 

xrpbtc-dec22

Against BTC, XRP continued to drop further beneath the 2700 assist to attain lower assist at 2600 SAT. It bounced from this assist nonetheless was unable to interrupt the resistance at 2750 SAT, inflicting it to roll-over to the current 2675 SAT diploma.

If XRP had been to fall beneath the 2600 SAT diploma, the market would proceed its bearish trajectory. Alternatively, if it had been to rise and climb once more above 3110 SAT (100-days EMA), the market would flip bullish.

XRP Short Term Price Prediction

If the bears proceed to dominate the market and push it lower, preliminary sturdy assistance is positioned at 2600 SAT. Beneath this, further assist may be positioned at 2530 SAT (draw again 1.618 Fib Extension), 2455 SAT, and 2400 SAT. On the alternative hand, if the customers can push earlier the resistance at 2752 SAT, elevated resistance is positioned at 2800 SAT, 2900 SAT, and 3000 SAT.

The Stochastic RSI simply these days produced a bullish crossover signal that allowed the coin to rebound from 2600 SAT. However, the RSI continues to be all through the bearish favor. For a bullish restoration, the RSI ought to rise elevated above the 50 diploma to level out that the bulls are in administration over the market momentum.

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Cryptocurrency charts by TradingView.
Technical analysis devices by Coinigy.

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