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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 as it exploded by a mighty 32.5%. The cryptocurrency started the day at $ 0.33 as it started pushing higher to hit the high $ 0.44. It has since fallen slightly to trade at $ 0.413.
The cryptocurrency had been showing signs all month that it was ready to start a bull run, but no one could have imagined that this kind of price explosion was on the way. The coin had burst from a symmetrical triangle earlier in the month when it started pushing higher. XRP continued to reach $ 0.3 mid-week and paused here for a few days until yesterday it broke the resistance to reach $ 0.33.
XRP-USD Short Term Price Prediction
Looking ahead, if buyers can continue this epic bullish push, the first two resistance levels are at $ 0.42 and $ 0.44. Above this, resistance is found at $ 0.457 (bearish .786 Fib), $ 0.48, $ 0.486 (1.272 Fib Extension) and $ 0.5.
On the other hand, if the sellers push down, the first support level is at $ 0.4. Below that, support is found at $ 0.388 (.236 Fib), $ 0.378, $ 0.36 (.382 Fib) and $ 0.35 (2020 high).
As expected, both the RSI and the Stochastic RSI are extremely overbought with such a powerful boost in one day.
XRP / BTC – Buyers are returning XRP to their October highs
Key Support Levels: SATURDAY 2100, SATURDAY 2035, SATURDAY 1945.
Key Resistance Levels: 2335 SAT, 2450 SAT and 2545 SAT.
XRP also managed to push higher against Bitcoin today as it rose in the SAT 2335 resistance (bearish retracement .618 Fib and October high). The coin has fallen slightly from here since then as it is trading at 2185 SAT (bearish 0.5 Fib and 200-day EMA).
This is a very promising sign for any market buyer as XRP has struggled heavily against BTC for the past 3 consecutive months.
XRP-BTC short term price prediction
Looking forward, if the bulls turn back above the 200-day EMA, the first resistance level is at 2335 SAT (.618 Fib bearish retracement). Above this, resistance is found at 2450 SAT, 2545 SAT (bearish .786 Fib Retracement) and 2620 SAT.
On the other hand, the first level of support is at 2100 SAT. Below that, support is found at 2035 SAT (.382 Fib and 100-day EMA) and 1943 SAT.
Likewise, both the RSI and the Stochastic RSI are extremely overbought.
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