CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$29,894.00
  • ethereum
    ETH$2,031.06
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Crypto Fund
    Home » XRP » Ripple Price Analysis: XRP Drops Beneath EMA-200, Will $0.30 Hold?

    Ripple Price Analysis: XRP Drops Beneath EMA-200, Will $0.30 Hold?

    Author: Yaz Sheikh

    Last Updated Dec 18, 2019 @ 13:24

    XRP has seen a small price rebound over the past 24 hours, marking an increase of around 3.3% to $0.3455. The latest move comes after XRP dropped beneath a rising trend line, having declined by a total of 10% over the past week.

    Ripple remains the third largest cryptocurrency by market value with a market cap of $14.72 billion. However, the cryptocurrency continues to fall heavily against BTC and for any recovery to occur, we will need to see a reversal in the XRP/BTC market.

    Looking at the XRP/USD 1-day chart:

    • Since our previous XRP/USD analysis, XRP fell beneath the rising trend line which we have been tracking. XRP also dropped below the support provided by both the 100 and 200-day EMAs. It went as low as $0.303 before rebounding to $0.3455.
    • From above: The nearest level of resistance lies at $0.35. Above this, higher resistance lies at $0.3612, $0.3670, and $0.38. The resistance at $0.38 is considered very strong due to the nearby 100 and 200-day EMAs. Above $0.38, further resistance lies at $0.3909 and $0.40. 
    • From below: The nearest level of support now lies at $0.33, $0.32 and $0.3177. Beneath this, lower support is found at $0.31 and $0.30. The support at $0.30 should be very strong, as it has provided support to the market both this year and last. If XRP does fall below $0.30, we would not expect it to stay beneath this level for very long and anticipate support at $0.29, $0.2890, and $0.2810.
    • The trading volume has been increasing during this week’s round of selling.
    • The Stochastic RSI and the RSI itself are both in oversold territory. We will need to wait for a bullish crossover signal on the Stochastic RSI to indicate that a push higher is imminent.

    xrpusd_jul12-min

    Looking at the XRP/BTC 1-day chart:

    • XRP has continued to suffer against Bitcoin, briefly falling below expected support at 3,000 satoshi. XRP has been consistently falling against BTC all year, creating fresh lows as the year has progressed. XRP/BTC has rebounded slightly and now trades at 2,950 sat.
    • From above: The nearest level of resistance lies at 3,000 sat. Above this, higher resistance is found at 3,370 sat, 3,630 sat, 3,666 sat, and 4,000 sat. Above 4,000 sat, further resistance lies at 4,377 sat, 4,500 sat, and 5,000 sat.
    • From below: The nearest level of support lies at 2,890 sat. Beneath this, support is located at 2,710 sat, 2,455 sat, 2,200 sat, and 2,000 sat.
    • The trading volume has also increased significantly as XRP/BTC has made fresh 2019 lows.
    • The Stochastic RSI is in oversold territory as we wait for a bullish crossover signal to push the market higher.

    xrpbtc_jul12-min

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.


    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
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    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.

  • bitcoin
    BTC$29,894.00
  • ethereum
    ETH$2,031.06
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials

    Bitstamp CEO JB Graftieaux: We Are Still Early (Interview)

    Bitstamp CEO JB Graftieaux: We Are Still Early (Interview)

    Okay Bears NFT Collection: The Complete Guide

    Okay Bears NFT Collection: The Complete Guide

    Our Ambition is to Become the Amazon of Crypto: Interview with Coinbase’s Guillaume Chatain

    Our Ambition is to Become the Amazon of Crypto: Interview with Coinbase’s Guillaume Chatain

    Bittrex CBO: Why Bittrex Lost its Lead, Token Sales’ Critical Mistakes, and How to Get Listed (Interview)

    Bittrex CBO: Why Bittrex Lost its Lead, Token Sales’ Critical Mistakes, and How to Get Listed (Interview)

    What is Balancer Protocol? Everything You Need to Know

    What is Balancer Protocol? Everything You Need to Know

    Coinbase Wallet For Beginners: The Complete Guide

    Coinbase Wallet For Beginners: The Complete Guide

    Tether Has No Plans to Go Public: CTO Paolo Ardoino (Exclusive Interview)

    Tether Has No Plans to Go Public: CTO Paolo Ardoino (Exclusive Interview)

    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 | Careers

    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!