CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$48,951.00
  • ethereum
    ETH$1,516.05
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » XRP » Ripple Price Analysis: Will The $0.20 Crucial Support And 6-Month Low Against Bitcoin Save XRP From Further Plunge?

    Ripple Price Analysis: Will The $0.20 Crucial Support And 6-Month Low Against Bitcoin Save XRP From Further Plunge?

    Author: Yaz Sheikh

    Last Updated Mar 11, 2020 @ 13:05
    • XRP dropped by 9.5% over the past 24-hours of trading as it falls back into the $0.20 price levels.
    • Yesterday, the cryptocurrency broke down an ascending supporting trend line and completed an 18% drop since then.
    • Against Bitcoin, XRP dropped toward 2400 SAT to create a fresh 6-month low but has since recovered back above 2600 SAT.

    Key Support & Resistance Levels

    XRP/USD:

    Support: $0.20, $0.195, $0.19.
    Resistance: $0.22, $0.227, $0.235.

    XRP/BTC:

    Support: 2600 SAT, 2550 SAT, 2455 SAT.
    Resistance: 2710 SAT, 2750 SAT, 2800 SAT.

    XRP/USD – Ripple Drops Into $0.20 Support Following the Breakdown Down

    Since our previous analysis, XRP was still unable to break the $0.245 resistance level as it started losing momentum and dropped into the $0.235 support from last Saturday. Yesterday, on Sunday, XRP collapsed beneath the 2-month-old rising trend line as plummetted into the $0.20 support level.

    The current low lies at $0.195, but following Bitcoin’s rebound, XRP managed to close the day above the critical support at $0.20, provided by a downside 1.618 Fib Extension. Earlier today, XRP encountered resistance at $0.217, which caused it to fall back to the current price levels. XRP is not trading at a 2-month low against the US dollar.

    xrpusd-mar9
    XRP/USD. Source: TradingView

    XRP-USD Short Term Price Prediction

    If the sellers break beneath $0.20, the next support can be found at $0.195. This is followed by support at $0.19 and $0.181, which had provided stiff support for the market during December 2019. Beneath this, further support is located at $0.17.

    From above, resistance lies at $0.217. This is followed by resistance at $0.22, $0.227, ad $0.235. The RSI has bounced from oversold conditions; however, the momentum remains heavily in favor of the sellers.

    XRP/BTC – 6-Month Low Against Bitcoin

    Against Bitcoin, we can see that XRP went on sideways trading above the 2640 SAT support since our last analysis. However, on Sunday, XRP/BTC collapsed beneath the rising trend line as it dropped by a steep 10% to reach low at 2400 SAT – creating a fresh 6-month price low.

    As of now, it rebounded and managed to close above the 2525 SAT support level.

    In today’s trading session, XRP has returned to the previous rising trend line and is looks like this is the first support turned resistance level – 2650 SAT.

    xrpbtc-mar9
    XRP/BTC. Source: TradingView

    XRP-BTC Short Term Price Prediction

    In case of breaking above the marked ascending trend line, resistance lies at 2710 SAT, 2750 SAT, and 2800 SAT.

    On the other side, further support is located at 2600 SAT, 2525 SAT, and 2455 SAT.

    The RSI is approaching back toward the 50 level, which shows that the selling momentum is showing signs of fading away; however, it’s still early. For recovery, the RSI must break 50 to show the bulls have taken charge of the market momentum.

    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Enjoy reading? Please share:
    Facebook Twitter LinkedIn Telegram
    Read more on: Ripple (XRP) Price

    About The Author

    Yaz Sheikh View more posts by this author

    Yaz is a cryptocurrency technical analyst with over seven years of technical analysis trading experience. As an Economics graduate, he has taken a keen interest in the future potentials of blockchain in the financial industry. Removing crypto from the equation, Yaz loves to watch his favorite football team and keep up-to-date with the latest fights within the UFC.

  • bitcoin
    BTC$48,951.00
  • ethereum
    ETH$1,516.05
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    ADVERTISEMENT
    pionexb
    2local
    Bitcoin Editorials
    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!