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$48,706.00
  • ethereum
    ETH$1,527.00
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » XRP » Ripple Price Analysis: XRP Surges 60% Weekly As Bulls Eye $0.50 Target

    Ripple Price Analysis: XRP Surges 60% Weekly As Bulls Eye $0.50 Target

    Author: Yaz Sheikh

    Last Updated Feb 5, 2021 @ 14:23

    XRP saw a strong 14% price surge today, bringing the price up to $0.441. Against Bitcoin, XRP is also trying to push higher as it attempts to break the December 2017 lows at 1200 SAT.

    XRP/USD – Bulls Rebound From $0.365 Support.

    Key Support Levels: $0.434, $0.4, $0.365.
    Key Resistance Levels: $0.48, $0.5, $0.556.

    XRP is now up by a whopping 60% over the past week. The coin had dropped lower from the opening price of $0.5 on Monday as it slipped into the .5 Fib support at $0.365. It managed to hold this support over the past few days until rebounding higher yesterday.

    It managed to spike as high as $0.5 yesterday but eventually closed the daily candle at $0.45. There is strong resistance around $0.5, provided by a descending trend line that dates back to early December 2020.

    A breakout above $0.5 is likely to send XRP much higher toward the December 2020 highs.

    xrpusd-feb5
    XRP/USD Daily Chart. Source: TradingView

    XRP-USD Short Term Price Prediction

    Looking ahead, the first resistance lies at the descending trend line, around $0.48. This is followed by $0.5, $0.556 (2019 Highs), $0.571 (1.272 Fib Extension), $0.609 (1.414 Fib Extension), and $0.658 (bearish .786 Fib).

    On the other side, the first support lies at $0.434 (.236 Fib). This is followed by $0.4, $0.365 (.5 Fib), $0.35 (Feb 2020 high), and $0.3.

    The daily RSI remains above 60, indicating the bulls are still in charge of the market momentum.

    XRP/BTC – Buyers Defend .786 Fib.

    Key Support Levels: 1000 SAT, 980 SAT, 867 SAT.
    Key Resistance Levels: 1200 SAT, 1550 SAT, 1900 SAT.

    Against Bitcoin, XRP also fell lower from 1550 SAT on Monday. It went on to find support at 980 SAT through the week and held above this level. Yesterday, it rebounded and started to push higher, reaching as high as 1300 SAT.

    However, XRP could not close a daily candle above 1200 SAT (December 2017 lows) and is attempting to breach this resistance today.

    XRP/BTC would need to break the resistance at 1900 SAT (200-days EMA) to turn bullish again.

    xrpbtc-feb5
    XRP/BTC Daily Chart. Source: TradingView

    XRP-BTC Short Term Price Prediction

    Moving forward, the first resistance lies at 1200 SAT (December 2017 lows). This is followed by resistance at 1550 SAT (November 2020 low & 100-days EMA) and 1900 SAT (July 2020 low & 200-days EMA).

    On the other side, the first support lies at 1000 SAT. This is followed by 980 SAT (.786 Fib), 867 SAT (previous range resistance), 750 SAT, and 670 SAT (previous range support).

    The RSI is marginally above the midline, indicating weak bullish momentum within the market. It would need to start rising for XRP to head back above 1550 SAT.

    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$48,706.00
  • ethereum
    ETH$1,527.00
  • 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!