XRP bulls finally wake up and break out of $ 0.27, what’s next?


XRP / USD – The bulls finally break out of the October range

Key Support Levels: $ 0.27, $ 0.261, $ 0.251.
Key Resistance Levels: $ 0.271, $ 0.28, $ 0.286.

XRP has risen 6.8% over the past three days, which has allowed the coin to break out of the upper bound of a 2-month range at $ 0.261. This resistance was provided by a bearish .5 Fib retracement and prevented XRP from pushing higher in both September and October.

After breaking out of $ 0.261, XRP continued to rise until it reached the resistance of $ 0.271 today (bearish .618 Fib). It has risen further to reach $ 0.28 but must close above $ 0.271 for the bullish run to continue to rise.

XRP / USD daily chart. Source: TradingView

XRP-USD Short Term Price Prediction

Looking ahead, if the bulls break out of $ 0.271, the first resistance level is at $ 0.28. Above this, resistance is found at $ 0.286 (bearish .786 Fib), $ 0.29 and $ 0.295 (bearish .886 Fib).

Alternatively, if the sellers push down, the first support level is $ 0.27. Below that, support is found at $ 0.261 and $ 0.251.

The RSI has pushed higher towards overbought conditions, but there is still room to continue further, suggesting that the bulls are not exhausted yet.

XRP / BTC – Bulls fighting the SAT 1700 resistance

Key Support Levels: 1610 SAT, 1555 SAT, 1500 SAT.
Key Resistance Levels: 1700 SAT, 1755 SAT, 1865 SAT.

Against Bitcoin, XRP bounced off the SAT 1555 support three days ago, pushing itself higher to break out of 1600 SAT and reach the current SAT 1700 resistance.

The resistance at 1700 SAT caused XRP problems during the month of November, and it needs to break that for the coin to begin its recovery from the 40% decline it has seen since August 2020.

XRP / BTC daily chart. Source: TradingView

XRP-BTC short term price prediction

Looking ahead, once the bulls have broken through the 1700 SAT, the first resistance level is located at 1755 SAT (bearish 0.236 Fib). Above this, resistance is expected at 1865 SAT (bearish .382 Fib), 1900 SAT (July 20th low) and 1954 SAT (bearish .5 Fib).

On the other hand, the first support level is at 1610 SAT. Under 1600 SAT, support is at 1555 SAT, 1490 SAT and 1450 SAT.

The RSI just penetrated above the midline to indicate that buyers have taken control of the market momentum. If they manage to stay above the midline, the momentum will turn bullish and allow XRP to rise further.

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