Ripple Price Analysis: XRP Pushes Above $0.20 as Bulls Chart Another 8% Daily Increase

  


  • XRP saw a serious 8.3% increase today as it returned to the $0.2 level.
  • The latest price rise allowed XRP to climb above the 100-day EMA as it attempts to start a recovery.
  • Against Bitcoin, XRP finally rebounded from 1900 SAT to climb toward 2160 SAT.

Key Support & Resistance Levels

XRP/USD:
Support: $0.196, $0.192, $0.175.
Resistance: $0.21, $0.215, $0.225.
XRP/BTC:
Support: 2100 SAT, 2070 SAT, 2000 SAT.
Resistance: 2200 SAT, 2250 SAT, 2360 SAT.

XRP/USD: XRP Bulls Reclaim $0.2

XRP started July off by trading at the support at $0.175 (.5 Fib Retracement level). The bulls defended this level and prevented XRP from slipping beneath. This week, XRP pushed higher from $0.175 as it reached $0.19 yesterday.

In today’s trading session, XRP moved higher from $0.19 to break the 100-days EMA and climb above the $0.20 level.

xrpusd-jul8
XRP/USD. Source: TradingView

XRP-USD Short Term Price Prediction

Moving forward, if the bulls continue to push higher, initial resistance lies at $0.21 (200-days EMA). Above this, resistance can be expected at $0.215 and $0.225 (bearish .5 Fib Retracement).

On the other side, the first level of support is found at $0.196 (100-days EMA). This is followed by added support at $0.192 (.382 Fib Retracement) and $0.175 (.5 Fib Retracement).

The RSI is well above the 50 line to indicate that the bulls are in total control of the market momentum. However, the Stochastic RSI is in overbought conditions and is primed for a bearish crossover signal that could send the market lower.

XRP/BTC: XRP Rebounds From 1900 SAT Disaster

Against Bitcoin, XRP suffered greatly during May and June after the coin dropped from 2500 SAT to reach as low as 1900 SAT. Luckily, the bulls rebounded from the support at 1900 SAT at the start of July.

The buyers met some resistance at 2000 SAT yesterday, but the price hike seen today allowed XRP to break this level to reach 2160 SAT.

xrpbtc-jul8
XRP/BTC. Source: TradingView

XRP-BTC Short Term Price Prediction

If the buyers continue, resistance is found at 2200 SAT, 2250 SAT (bearish .236 Fib Retracement), and 2360 SAT.

On the other side, support is found at 2100 SAT, 2071 SAT, and 2000 SAT.

Likewise, the Stochastic RSI is in overbought conditions and is primed for a bearish crossover signal that could result in a retracement for XRP.

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Cryptocurrency charts by TradingView.



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