XRP saw an increase of around 8% over the past 24 hours, bringing its price up to $0.2764. This latest spike is largely attributed to XRP being able to smash above the 3112 SAT resistance level against BTC. Despite this hike, the cryptocurrency is still down 30% over the previous 3 months as it makes its way back toward the $0.30 level.
XRP remains the third-largest cryptocurrency with a market cap of $11.92 billion.
Looking at the XRP/USD 1-Day Chart:
- Since our previous XRP/USD analysis, the cryptocurrency managed to rise above the strong resistance around the $0.2584 level. XRP continued higher to meet resistance at $0.2880, just beneath the 100-days EMA. XRP has since fallen to where it currently trades at $0.2766.
- From above: The nearest level of resistance lies at $0.029, which is provided by the 100-days EMA. Above this, resistance can be found at $0.30, $0.308, and $0.3177 (200-days EMA). Above the 200-days EMA, resistance lies at $0.3262, $0.3371, and $0.35.
- From below: The nearest level of support lies at $0.26. Beneath this, support lies at $0.2518, $0.24, $0.2345, $0.23, $0.22, and $0.2153.
- The trading volume has seen a significant increase over the past few days.
- The RSI has managed to surge above the 50 level to show that the bulls are in charge of the market momentum.
Looking at the XRP/BTC 1-Day Chart:
- Against Bitcoin, XRP has managed to break above the previous crucial resistance at 3112 SAT. It continued further higher, breaking above the 100-days EMA at 3200 SATS, to reach resistance at 3500 SAT.
- From above: The nearest level of resistance lies at 3500 SAT. Above this, resistance is at 3568 SAT (.382 Fib Retracement), 3666 SAT, 3800 SAT, 3936 SAT (bearish .5 Fib Retracement), and 4100 SAT (200-days EMA).
- From below: The closest level of support lies at 3200 SAT and 3112 SAT. Beneath this, support is found at 3000 SAT, 2800 SAT, 2600 SAT, and 2455 SAT.
- The trading volume has seen a significant bump over the past few days.
- The RSI remains strongly in favor of the bulls as it reaches overbought conditions.
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