- XRP saw a sharp 6% price drop over the past week as the bulls battle to defend $0.175.
- A break beneath $0.175 would result in XRP unwinding toward the $0.15 level.
- Against Bitcoin, the disaster continues as it created fresh lows beneath 1950 SAT.
Key Support & Resistance Levels
Support: $0.175, $0.171, $0.165.
Resistance: $0.185, $0.192, $0.20.
Support: 1900 SAT, 1890 SAT, 1873 SAT
Resistance: 1950 SAT, 2000 SAT, 2070 SAT.
XRP/USD: Buyers Battling To Defend .5 Fib Retracement
XRP had fallen beneath a descending triangle formation pattern last week, which saw the coin headed lower until it found support at $0.175, provided by a .5 Fib Retracement. It did slip beneath this level, but the buyers are continuously battling to make sure XRP closes above $0.175 each day.
A break beneath this support could result in XRP unwinding lower toward the $0.157 support (.618 Fib Retracement).
XRP-USD Short Term Price Prediction
Looking ahead, if the support at $0.175 breaks, the first level of lower support lies at $0.171. Beneath this, added support is found at $0.165, $0.157 (.618 Fib Retracement), and $0.15.
On the other side, the first level of strong resistance lies at $0.185. Above this, added resistance is found at $0.192 and $0.20 (100-days EMA).
The RSI is well beneath 50, which indicates bearish momentum within the market. If the RSI starts to rise back toward 50, this will be the first sign that the selling pressure is starting to fade. Additionally, the Stochastic RSI is in oversold conditions and is primed for a bullish crossover signal.
XRP/BTC: XRP Bearish Disaster Continues
For the past two months, XRP has been continuously creating fresh 2-year lows after dropping beneath the 2000 SAT support. The coin continued with this theme over the past few days as XRP dropped below the previous support at 1950 SAT to reach the current 1933 SAT level.
It is still unclear as to how far XRP may go. However, investors are all in the same boat as they wait for the first sign of any potential reversal.
XRP-BTC Short Term Price Prediction
If the bears continue to push lower and break beneath 1900 SAT, the first level of support lies at 1890 SAT. Beneath this, added support is found at 1873 SAT, 1834 SAT, and 1800 SAT.
On the other side, the first level of resistance is expected at 1950 SAT. Above this, added resistance is at 2000 SAT and 2071 SAT.
Likewise, the RSI is beneath the 50 line, but it is starting to rise, which shows fading selling momentum. It still must break above 50 for any hope of recovery for XRP
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