XRP / USD – Bullish explosion leads to 17-month highs
Key support levels: $ 0.4, $ 0.388, $ 0.378.
Key resistance levels: $ 0.42, $ 0.44, $ 0.457.
Today, XRP surprised everyone by exploding by a powerful 32.5%. The cryptocurrency started the day at $ 0.33 as it started to rise to $ 0.44. It has since fallen slightly to trade at $ 0.413.
The cryptocurrency had shown throughout the month that it was ready to start a bull run, but no one could have guessed that this type of price explosion was imminent. The coin had erupted from a symmetrical triangle earlier this month as it began to grow higher. XRP continued to hit $ 0.3 midweek and stagnated here for a few days until it broke resistance yesterday to hit $ 0.33.
XRP-USD Short Term Price Prediction
Looking ahead, if the buyers can continue this epic bullish push, the first two resistance levels are at $ 0.42 and $ 0.44. Above that resistance stands at $ 0.457 (0.786 Fib bearish), $ 0.48, $ 0.486 (1.272 Fib Extension), and $ 0.5.
On the other side, if the sellers push lower, the first level of support is at $ 0.4. Below, support stands at $ 0.388 (0.236 Fib), $ 0.378, $ 0.36 (0.382 Fib) and $ 0.35 (2020 high).
As expected, the RSI and Stochastic RSI are extremely overbought with such a powerful surge in one day.
XRP / BTC – Buyers push XRP back to October highs
Key support levels: 2100 SAT, 2035 SAT, 1945 SAT.
Key resistance levels: 2335 SAT, 2450 SAT and 2545 SAT.
XRP was also successful in pushing higher against Bitcoin today by jumping into 2335 SAT resistance (bearish 0.618 Fib retracement and October high). The coin has since moved lower from here as it trades at 2185 SAT (0.5 Fib bearish and 200-day EMA).
This is a very promising signal for all buyers in the market as XRP has struggled a lot against BTC over the past 3 consecutive months.
XRP-BTC Short Term Price Prediction
Looking ahead, if the bulls push back above the 200-day EMA, the first resistance level is at 2335 SAT (bearish retracement of 0.618 Fib). Above that, resistance stands at 2450 SAT, 2545 SAT (0.786 Fib bearish retracement) and 2620 SAT.
On the other side, the first level of support is at 2100 SAT. Below that, support lies at 2035 SAT (.382 Fib & 100-days EMA) and 1943 SAT.
Likewise, the RSI and the Stochastic RSI are extremely overbought.
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