XRP suffers from new lows against incoming bitcoins


XRP / USD – The bulls are trading sideways after breaking the triangle

Key Support Levels: $ 0.25, $ 0.245, $ 0.237.
Key Resistance Levels: $ 0.261, $ 0.271, $ 0.28 ..

Last week, XRP managed to break free from a symmetrical triangular pattern, but has since moved sideways from the breakout. The coin appears to remain supported at the $ 0.25 level, but struggles to break the resistance around $ 0.261 (.5 Fib bearish retracement).

To turn bullish, XRP would have to close a daily candle above the $ 0.261 level to show that buyers are ready to push higher towards $ 0.28.

XRP / USD daily chart. Source: TradingView

XRP-USD Short Term Price Prediction

Looking ahead, if buyers bounce off $ 0.25 and penetrate above the $ 0.261 level (bearish 0.5 Fib), the highest resistance is found at $ 0.271 (bearish .618 FIb), $ 0, 28 (1.414 Fib Extension) and $ 0.286 (bearish 0.786 Fib).

On the other hand, if sellers push below the current $ 0.25 support, the additional support is found at $ 0.245 (100-day EMA), $ 0.237 (200-day EMA) and $ 0.228 (. 618 Fib Retracement).

The volume appears to be falling and the Stochastic RSI has produced a bearish crossover signal into overbought territory, which is a strong sell signal when combined with falling volume.

XRP / BTC – XRP Fight under 2000 SAT.

Key Support Levels: 1915 SAT, 1900 SAT, 1865 SAT.
Key Resistance Levels: 1960 SAT, 2000 SAT, 2035 SAT.

Last week, XRP penetrated below the 2000 SAT level. It continued to struggle over the weekend as it broke support at the 1960 SAT. Today, after a brief push towards the 2000 SAT, sellers emerged and reported XRP to its October lows at 1915 SAT – provided by a bearish extension of 1.618 Fib.

XRP is in a difficult position right now against Bitcoin. If sellers penetrate below the 1900 SAT, XRP would set new lows in 2020 for XRP / BTC.

XRP / BTC daily chart. Source: TradingVIew

XRP-BTC short term price prediction

Looking ahead, if sellers break through the 1915 SAT, the first support level is at 1900 SAT, which is the July 2020 low. Below that, support is at 1865 SAT, 1800 SAT, and 1780 SAT.

On the other hand, the first resistance level is found at 1960 SAT. Resistance to 2000 SAT, 2035 SAT and 2100 SAT follows.

Both the RSI and the Stochastic RSI are oversold, suggesting that the selling pressure should end as the bears appear to be over-extended.

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