Following the latest Ripple price analysis, XRP maintained an important 30 cent support area and passed higher lows. However, to form a bullish structure, we need to see higher highs in the next short term.
Technical analysis Grizzly
In the daily time frame, buyers are trying to dominate the market.
By adding the Fibonacci retracement level to the following graph, the resistance zone of 23.6% (purple) to 38.2% (yellow) can be considered the first major challenge for XRP. This zone ranges from $ 0.45 to $ 0.6.
Given the deep collisions that have occurred in the last few months, it may not be easy to break this area as the strong support turned into resistance during the fall. On the other hand, for a $ 0.3 breakdown, $ 0.24 is the next important level of support.
Main support levels: $ 0.30 & $ 0.24
Major resistance levels: $ 0.45 & $ 0.60
MA20: $ 0.33
MA50: $ 0.36
MA100: $ 0.50
MA200: $ 0.63
XRP / BTC chart
In the BTC Trading Pair Chart, 100-DMA (blue) is currently functioning as support. Bears have succeeded in dropping 14% of the bullish trend in mid-June.
The intersection of 50 days of daily MA (yellow) and horizontal support (green) at 1500 SAT can be marked as a potential area of support. If the latter level is maintained, the 1700-1800SAT level is likely to be retested.
Main support levels: 1500SAT and 1250SAT
Major resistance levels: 1700 SAT & 1800 SAT
Binance Free $ 100 (Exclusive): Register using this link and receive $ 100 Free and 10% Off Fees in the First Month of Binance Futures (Clause).
PrimeXBT Special Offer: Use this link to register and enter your POTATO50 code and receive a deposit of up to $ 7,000.
Disclaimer: The information found in CryptoPotato is that of the author cited. It does not represent Crypto Potato’s opinion on whether to buy, sell or hold an investment. We recommend that you do your own research before making an investment decision. Please use the information provided at your own risk. See Disclaimer for more information.
Cryptocurrency chart by TradingView.