XRP Drops Below Crucial 200EMA and 100EMA But Marks A Slight Bounce, Can Bulls Regroup?

  • XRP dropped by a total of 3.4% over the past 24 hours of trading, bringing the price down to $0.233.
  • The cryptocurrency penetrated beneath the 200-days EMA and continued below the 100-days EMA.
  • XRP also fell as low as 2550 SAT against Bitcoin before rebounding higher.

Key Support & Resistance Levels

Support: $0.227, $0.217, $0.21.
Resistance: $0.235, $0.245, $0.25.
Support: 2600 SAT, 2550 SAT, 2525 SAT.
Resistance: 2710 SAT, 2750 SAT, 2800 SAT.

XRP/USD: Ripple Breaks 200-days and 100-days EMA’s

Since our last analysis, XRP broke beneath the 200-days EMA and the rising trend line that was in play throughout 2020. It continued to fall below the .618 Fib Retracement at $0.26 and the 100-days EMA.

The price decline was stalled as it reached support at around $0.227, which was bolstered by the short term .886 Fibonacci Retracement level. It rebounded from here and is attempting to rise.

This latest price drop puts XRP beneath the opening price for February 2020 as it turns bearish. A break and close beneath $0.226 would confirm the bearish trend.

XRP/USD. Source: TradingView

XRP Short Term Price Prediction

If the sellers push back beneath $0.23 and $0.227, additional support is located at $0.217, $0.21, and $0.20.

On the other side, resistance lies at $0.235. This is followed by resistance at $0.245, $0.25 (100-days EMA), and $0.26.

The RSI has bounced after it reached oversold conditions, which is a good sign for the buyers. If it can continue to climb, XRP might start to recover. A bullish crossover signal on the Stochastic RSI would confirm that the bulls are attempting to regroup and push higher.

XRP/BTC – XRP Finds Support At 2600 SAT.

Against Bitcoin, XRP fell beneath the support at 2750 SAT and continued below additional support at 2710 SAT. It spiked as low as 2550 SAT, provided by a downside 1.618 Fib Extension, but has since rebounded.

It has now climbed above support at 2600 SAT as it trades at 2660 SAT.

XRP/BTC. Source: TradingView

XRP Short Term Price Prediction

The first level of higher resistance lies at 2710 SAT. This is followed by resistance at 2750 SAT, 2800 SAT, and 2850 SAT (100-days EMA).

Alternatively, if the sellers break 2600 SAT again, support lies at 2550 SAT, 2525 SAT, and 2500 SAT.

The RSI has also rebounded as the buyers try to establish some form of momentum. It must continue above 50 before the bulls reclaim charge within the momentum.

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Cryptocurrency charts by TradingView.