Ripple Price Analysis: XRP Battles To Defend $0.17 And Increases Against Bitcoin, Is A Breakout Coming?

  • XRP remains stable above $0.17, while Bitcoin dropped by 2% today.
  • The cryptocurrency rebounded from support at a rising trend line that allowed it to climb back above $0.17 this week.
  • Against Bitcoin, XRP increased by 4% over the past two days as it reaches 2730 SAT.

Key Support & Resistance Levels

Support: $0.171, $0.16, $0.156.
Resistance: $0.182, $0.191, $0.2.
Support: 2710 SAT, 2650 SAT, 2600 SAT.
Resistance: 2750 SAT, 2800 SAT, 2850 SAT.

XRP/USD: Ripple Bulls Battle To Defend $0.17

After rebounding from the rising trend line a couple of days ago, XRP slowly increased as it climbed above the previous $0.171 resistance level that marked the upper boundary of a triangle.

The buyers are now battling to remain above this support. However, if Bitcoin continues to decline, XRP will likely follow suit and break beneath this 2-week old rising trend line.

XRP/USD. Source: TradingView

XRP/USD Short Term Price Prediction

If the sellers do break $0.171, the first level of support lies at the rising trend line. Beneath this, support lies at $0.16, $0.156, and $0.147. Additional support is expected at $0.14 and $0.136.

Toward the upside, the first level of resistance lies at $0.182. Above this, resistance is located at $0.191 (bearish .618 Fib Retracement), $0.20, and $0.217 (100-days EMA).

The RSI is looking weak above the 50 level and looks like it might fall and head lower. A break beneath 50 would show that the sellers are taking charge of the market momentum and will likely push XRP beneath this rising trend line.

Additionally, the Stochastic RSI is extremely overbought right now, and a bearish crossover signal will send XRP lower.

XRP/BTC: Ripple Rebounds Back Above 2700 SAT.

Against Bitcoin, XRP went on to drop as low as 2650 SAT this weekend but since rebounded to climb back above the 2700 SAT level.

The cryptocurrency is looking strong against Bitcoin, especially with the RSI above 50, but the bulls face stiff resistance at the 100-days EMA.

XRP/BTC. Source: TradingView

XRP-BTC Short Term Price Prediction

From above resistance lies at 2750 SAT (100-days EMA) and then at the steep falling trend line. Above this, resistance lies at 2800 SAT, 2850 SAT, and 2900 SAT.

Toward the downside, the first level of support lies at 2710 SAT. Beneath this, support lies at 2650 SAT, 2600 SAT, and 2525 SAT.

The RSI recently rebounded at the 50 level, which shows that the bulls remain in charge of the market momentum. However, the Stochastic RSI is primed for a bearish crossover signal that will send the market lower.

The post Ripple Price Analysis: XRP Battles To Defend $0.17 And Increases Against Bitcoin, Is A Breakout Coming? appeared first on CryptoPotato.

Source: Crypto Potato