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    Home » XRP » XRP Facing Crucial Resistance at $0.30, First Time in 76 Days (Ripple Price Analysis)

    XRP Facing Crucial Resistance at $0.30, First Time in 76 Days (Ripple Price Analysis)

    Author: Yaz Sheikh

    Last Updated Nov 17, 2020 @ 16:01

    XRP might have dropped by a small 1.2% over the past 24 hours, but it is still up by a strong 19.6% over the past week. The coin penetrated strong resistance yesterday at $0.271, which allowed it to explode and reach the $0.3 level. Against Bitcoin, XRP has also started to recover from the lows of 1555 SAT seen this month. Today, it managed to surge above the 1800 SAT level.

    XRP/USD – Bullish Explosion Leads To XRP Hitting $0.3

    Key Support Levels: $0.295, $0.29, $0.286.
    Key Resistance Levels: $0.3, $0.31, $0.321.

    XRP penetrated above a symmetrical triangle last week as it started to climb higher again slowly. The coin penetrated above resistance at $0.261 and pushed higher into the $0.271 level (bearish .618 Fib). The coin stalled here for a couple of days but managed to surpass it yesterday as it surged toward $0.29.

    Today, XRP continued higher as it broke the resistance at $0.295 (bearish .886 Fib) to penetrate above $0.3 and spike as high as $0.31. The coin has since dropped slightly and is trading around the crucial resistance of $0.30 (1.618 Fib extension).

    xrpusd-nov17
    XRP/USD Daily Chart. Source: TradingView

    XRP-USD Short Term Price Prediction

    Looking ahead, if the buyers continue to push above $0.3, the first level of resistance lies at $0.31. Above this, resistance lies at $0.321 (long term bearish .886 Fib), $0.331, and $0.337. This is followed by $0.35, which is the 2020 high.

    On the other side, the first level of support lies at $0.295. This is followed by support at $0.29, $0.286, and $0.276 (.382 Fib).

    Both the RSI and Stochastic RSI are extremely overbought, which suggests the buyers might be a little overextended.

    XRP/BTC – Bulls Start Long Road To Recovery

    Key Support Levels: 1755 SAT, 1700 SAT, 1650 SAT.
    Key Resistance Levels: 1865 SAT, 1900 SAT, 1955 SAT.

    Against Bitcoin, XRP started a long road to recovery after it managed to push back above the 1700 SAT level yesterday. Today, XRP continued higher to break the resistance at 1755 SAT (bearish .236 Fib Retracement) and spiked as high as 1800 SAT.

    It is still quite some distance from being considered bullish, but the recent rebound is promising.

    xrpbtc-nov17
    XRP/BTC Daily Chart. Source: TradingView

    XRP-BTC Short Term Price Prediction

    Looking ahead, if the buyers continue to drive higher, the first level of resistance lies at 1865 SAT (bearish .382 Fib). Above this, resistance lies at 1900 SAT (July 20’ lows), 1955 SAT (bearish .5 Fib), and 2000 SAT.

    On the other side, if the sellers push lower, the first level of support lies at 1755 SAT. Beneath this, support lies at 1700 SAT, 1650 SAT, and 1600 SAT.

    The RSI is pushing higher from the mid-line to indicate that the buying momentum is increasing.

     

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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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