Ripple Price Analysis: Following 10% Weekly Gains, XRP Bulls Battling to Defend An Important Support

  


  • XRP surged by a strong 9.5% over the past week as the coin reclaims $0.20.
  • The cryptocurrency is facing strong resistance at the 200-day EMA at around $0.21.
  • Against Bitcoin, XRP has started to recover as it attempts to break the 2200 SAT resistance.

XRP/USD: XRP Buyers Holding Above $0.2

Key Support Levels: $0.192, $0.18, $0.175.
Key Resistance Levels: $0.215, $0.225, $0.235.

Last week, XRP bounced from the $0.175 (.5 Fib Retracement) support as it climbed above the 100-day EMA to break $0.2. It pushed further but struggled with the resistance at the 200-day EMA ($0.21).

XRP dropped lower from this resistance as the buyers battle to keep the coin above the $0.20 level. A breakout above $0.21 would allow XRP to head back to the May highs of $0.235.

xrpusd-jul13
XRP/USD. Source: TradingView

XRP/USD Short Term Price Prediction

Moving forward, once the bulls break the 200-day EMA, resistance lies at $0.215, $0.225 (bearish .5 Fib Retracement), and $0.235 (May 2020 high).

On the other side, if the sellers push beneath $0.2, support can be found at $0.192 (.382 Fib Retracement), $0.18, and $0.175 (.5 Fib Retracement).

The RSI is well in the bullish favor and still has room to push higher before being overbought. However, the Stochastic RSI is primed for a bearish crossover signal that would send the market lower.

XRP/BTC: XRP Re-Testing 2200 SAT Resistance

Key Support Levels: 2100 SAT, 2070 SAT, 2000 SAT.
Key Resistance Levels: 2200 SAT, 2250 SAT, 2360 SAT.

XRP managed to rebound from the 1900 SAT lows at the start of July. Since the bounce, it pushed higher above 2000 SAT to reach as high as 2200 SAT this week. The bulls are struggling to break 2200 SAT but are keeping the cryptocurrency above 2150 SAT.

A break beyond 2200 SAT would allow XRP to push back toward the 200-day EMA at 2500 SAT.

xrpbtc-jul13
XRP/BTC. Source: TradingView

XRP-BTC Short Term Price Prediction

Above 2200 SAT, resistance is found at 2250 SAT (bearish .236 Fib Retracement), 2300 SAT, and 2360 SAT.

On the other side, support is found at 2100 SAT, 2070 SAT, and 2000 SAT.

Likewise, the Stochastic RSI is primed for a bearish crossover signal, but the RSI still has room to push higher before being overbought.

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Cryptocurrency charts by TradingView.




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