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    Home » XRP » Ripple Price Analysis: XRP Bulls Battle To Defend 2020 Highs, These Are The Levels to Watch

    Ripple Price Analysis: XRP Bulls Battle To Defend 2020 Highs, These Are The Levels to Watch

    Author: Yaz Sheikh

    Last Updated Jun 14, 2021 @ 12:26

    XRP is up by a total of 4% today as it attempts to defend the 2020 highs at $0.8282. Against bitcoin, it dropped beneath the May LDC price as it slips to 2200 SAT.

    XRP/USD – XRP Battling To Defend 2020 Highs

    Key Support Levels: $0.828, $0.8, $0.75.
    Key Resistance Levels: $0.92, $1.00, $1.05.

    Last week, XRP fell beneath an ascending triangle pattern after dropping below $1.00. Over the course of the week, XRP crashed to $0.8 but has battled to close each daily candle above the 2020 high at $0.8282.

    It is now struggling to break above the 20-day MA at around $0.92, and this will be the first resistance to overcome as a signal that the bulls are attempting a reversal.

    xrpusd-jun14
    XRP/USD Daily Chart. Source: TradingView.

    XRP-USD Short Term Price Prediction

    Looking ahead, the first level of support lies at $0.8282. This is followed by $0.8, $0.75 (.786 Fib), and $0.7 (200-day MA).

    Alternatively, the first resistance lies at $0.92 (20-day MA). This is followed by $1 (100-day MA), $1.05 (bearish .382 Fib), and $1.20 (50-day MA).

    The RSI has been consistently beneath the midline throughout June 2021, indicating that the bears are in complete control of the momentum. However, it has not dipped too far beneath the 40 level, which indicates that the bears have failed to increase their momentum so far.

    XRP/BTC – Bears Break Beneath May Low-day Closing Price

    Key Support Levels: 2200 SAT, 2052 SAT, 1900 SAT.
    Key Resistance Levels: 2260 SAT, 2415 SAT, 2500 SAT.

    XRP is showing signs of weakness against BTC after breaking beneath the May low-day closing price at 2260 SAT today. A long-term .786 Fib provided this support, and the bulls attempted to defend this level over the weekend.

    Since breaking beneath it, XRP dropped as low as 2200 SAT, where it founds support at a short-term .786 Fib.

    xrpbtc-jun14
    XRP/BTC Daily Chart. Source: TradingView.

    XRP-BTC Short Term Price Prediction

    Looking ahead, if the sellers continue beneath 2200 SAT, the first support lies at 2052 SAT (long term .886 Fib & 100-day MA). This is followed by 1900 SAT (Jul 2020 low) and 1800 SAT (200-day MA).

    On the other side, the first resistance lies at 2260 SAT. This is followed by 2415 SAT (bearish .236 Fib), 2500 SAT (20-day MA), and 2662 SAT (bearish .382 Fib & 50-day MA).

    The RSI is deep within the bearish territory here, indicating that the sellers are in total control of the market momentum. There is still room to continue further before the market becomes extremely oversold, suggesting prices could continue to decline from here.

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    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.
    Tags: Ripple (XRP) Price
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    About The Author

    Yaz Sheikh
    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.

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