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$26,447.00
  • ethereum
    ETH$1,618.14
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    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
    Home » XRP » Ripple Price Analysis: XRP Sees 3-Year Lows Against Bitcoin, More Downside Ahead?

    Ripple Price Analysis: XRP Sees 3-Year Lows Against Bitcoin, More Downside Ahead?

    Author: Yaz Sheikh

    Last Updated Oct 29, 2020 @ 15:47

    XRP has been moving sideways along the 100-days EMA for the past few days. The buyers are doing their best to defend the support, but it seems likely that the coin will head beneath it in the coming days. Against Bitcoin, the situation is pretty dire. XRP has now dropped to levels that have not been seen since December 2017.

    XRP/USD – Bulls Battling To Defend 100-days EMA

    Key Support Levels: $0.24, $0.23, $0.228.
    Key Resistance Levels: $0.251, $0.261, $0.271.

    XRP struggled to break a falling resistance trend line at the start of the week – close to $0.26. As a result, the coin started to decline in the past few days. Although it has spiked lower, the buyers have defended the 100-days EMA at the closing price every day this week.

    The previous triangle has been re-adjusted for the continued sideways movement and XRP is still trading within the boundaries. A break beneath this triangle is likely to send XRP back toward the September lows at $0.22.

    xrpusd-oct29
    XRP/USD Daily Chart. Source: TradingView

    XRP-USD Short Term Price Prediction

    Looking ahead, if the sellers push beneath the 100-days EMA and the lower boundary of the triangle, the first level of support lies at $0.24 (200-days EMA). Beneath this, support lies at $0.23, $0.228 (.618 Fib), and $0.22 (September lows).

    On the other side, the first level of resistance lies at $0.251 (bearish .382 Fib). Above this, resistance lies at the upper boundary of the triangle, $0.261 (bearish .5 Fib), and $0.271 (bearish .618 Fib).

    The RSI has now dipped beneath the mid-line to indicate that the sellers have taken charge of the market momentum. If it continues to fall, the selling momentum will increase and push XRP beneath the 100-days EMA.

    XRP/BTC – XRP Hits 34-Month Low Against Bitcoin

    Key Support Levels: 1800 SAT, 1780 SAT, 1755 SAT.
    Key Resistance Levels: 1865 SAT, 1900 SAT, 1950 SAT.

    The situation for XRP against BTC is in a totally different scenario. The coin dropped beneath the support at 1950 SAT a couple of days ago and headed toward the 1810 SAT level today. In doing so, XRP has now reached lows that have not been seen since December 2017.

    With the coin looking so bearish, it is unlikely that the downtrend will stop here, and we are likely to see it heading toward 1700 SAT over the coming days.

    xrpbtc-oct29
    XRP/BTC Daily Chart. Source: TradingView

    XRP-BTC Short Term Price Prediction

    Looking ahead, once the sellers push past 1810 SAT and break beneath 1800 SAT, the first level of support lies at 1780 SAT. Beneath this, added support lies at 1755 SAT, 1730 SAT, and 1700 SAT.

    On the other side, the first level of resistance lies at 1865 SAT. This is followed by resistance at 1900 SAT (July 20’ Low), 1950 SAT, and 2000 SAT.

    Both the RSI and Stochastic RSI are incredibly oversold. A bullish crossover on the Stochastic RSI would be the first signal that the coin is ready to rebound.

    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 CRYPTOPOTATO50 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$26,447.00
  • ethereum
    ETH$1,618.14
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    We’re Still the Most Compliant Crypto Exchange Today: Binance’s New CMO Sheds Light On Its Urgent Challenges (Exclusive)

    We’re Still the Most Compliant Crypto Exchange Today: Binance’s New CMO Sheds Light On Its Urgent Challenges (Exclusive)

    Quantstamp’s CEO: Here’s Why ‘Audited By’ for Crypto Security in 2023 is Not Enough (Interview)

    Quantstamp’s CEO: Here’s Why ‘Audited By’ for Crypto Security in 2023 is Not Enough (Interview)

    Deep Dive into Ethereum: What Changed A Year Post-Merge?

    Deep Dive into Ethereum: What Changed A Year Post-Merge?

    The Reports of Friend.tech Death Have Been Greatly Exaggerated (Opinion)

    The Reports of Friend.tech Death Have Been Greatly Exaggerated (Opinion)

    Exploring PayPal’s Foray into Cryptocurrency: A Game-Changer in Digital Finance

    Exploring PayPal’s Foray into Cryptocurrency: A Game-Changer in Digital Finance

    DeFi Without Native Rights Is Dead

    DeFi Without Native Rights Is Dead

    How Does the Shiba Inu (SHIB) Burn Work: Everything You Need to Know

    How Does the Shiba Inu (SHIB) Burn Work: Everything You Need to Know

    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!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    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!