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XRP / USD – Buyers continue to defend October lows
Key Support Levels: $ 0.235, $ 0.228, $ 0.22.
Key Resistance Levels: $ 0.245, $ 0.251, $ 0.261.
XRP broke below the symmetrical triangle pattern at the end of October and headed towards the 100-day EMA. It found support at the 200-day EMA but fell below it yesterday. Despite this, XRP remained supported at $ 0.228 (.618 Fib and October lows).
A break below this level is likely to send XRP on a downward spiral towards $ 0.20. On the other hand, the coin would have to break out of the overhead resistance at $ 0.26 in order to turn bullish.
XRP-USD Short Term Price Prediction
Looking ahead, if the sellers move below $ 0.235, the first support level is $ 0.228 (FIb 0.618). Below that, support is found at $ 0.22, $ 0.215, and $ 0.21.
On the other hand, if buyers push back above the 200-day EMA, the first resistance level is found at the 100-day EMA and downtrend line. Thereafter, resistance is found at $ 0.251 (bearish .382 Fib) and $ 0.251 (bearish .5 Fib).
The Stochastic RSI is in extremely oversold territory and is poised for a bullish crossover signal that should drive the market up. Furthermore, the RSI has recently rebounded from near-oversold territory, which suggests that bearish momentum is stalling.
XRP / BTC – Bulls attempting to defend SAT 1725 support.
Key Support Levels: 1725 SAT, 1700 SAT, 1680 SAT.
Key Resistance Levels: 1800 SAT, 1865 SAT, 1900 SAT.
XRP fought hard against Bitcoin. The coin fell by 28% in total in October, going from a high of 2400 SAT to a low of 1725 SAT (drop of 1,618 Fib Extension). The bulls have managed to defend this support for the past four days, but the downside momentum is rather extreme.
If XRP manages to break out of the 1900 SAT (July 20th lows), this would be a promising signal for all market bulls. On the other hand, should a daily candle close below 1725 SAT, it is likely that XRP will suffer further.
XRP-BTC short term price prediction
Looking ahead, if the bulls push higher, the first resistance level is at 1800 SAT. Above this, resistance is found at 1865 SAT, 1900 SAT and 2000 SAT (bearish retracement .382 Fib).
On the other hand, if sellers break out of the 1725 SAT support, the additional support is found at 1700 SAT, 1683 SAT (1.272 Fib extension on the downside), 1650 SAT (1.414 Fib extension on the downside) and 1600 SAT.
Likewise, both the RSI and the Stochastic RSI are extremely oversold in this market, suggesting that the downward pressure could end very soon.
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