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    Home » XRP » XRP Price Analysis: Ripple Bulls Defend a Critical Support, But is The Worst Over?

    XRP Price Analysis: Ripple Bulls Defend a Critical Support, But is The Worst Over?

    Author: CryptoVizArt

    Last Updated Jun 16, 2022 @ 14:44

    Buyers have so far defended the support at $0.3, but the overall situation doesn’t look particularly appealing for XRP. Against BTC, the cryptocurrency is performing a bit better.

    Technical Analysis

    By Grizzly

    The Daily Chart

    On the daily timeframe, the buy wall at $0.3 temporarily prevented the further decrease in the price. However, the selling pressure still seems high. Technically, for XRP bulls to hope for a reversal, the cryptocurrency needs to chart at least one higher high and higher low.

    On the other hand, if bears keep the control,  $0.3 is likely to fail as takers have once filled buy-orders at this price. The levels at which the makers have placed orders of more than 1.8 million XRP are shown in the chart, respectively. These levels have the potential to help reduce the bearish momentum.

    In the bullish scenario, the horizontal resistance at $0.37 (in yellow) is the first challenge on the path, accompanied by a red descending line as resistance.

    Key Support Levels: $0.25 & $0.23 & $0.20
    Key Resistance Levels: $0.37 & $0.41

    xrpusd_chart
    Source: TradingView

    Moving Averages:

    MA20: $0.38
    MA50: $0.44
    MA100: $0.61
    MA200: $0.69

    The XRP/BTC chart

    Against BTC, buyers again defended the horizontal support at 1230 Sats (in green). They managed to break the yellow dynamic resistance after more than 30 days of a sideways trend.

    The first barrier against them is the horizontal resistance in 1550 Sats (in red). If buyers can push the price above that, they will be able to get back one of the critical levels. XRP’s performance against Bitcoin has been decent in the last four days.

    xrpbtc_chart
    Source: TradingView

    Key Support Levels: 1250 Sats & 1100 Sats
    Key Resistance Levels: 1550 Sats & 1700 Sat

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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

    Crypto VizArt
    More posts by this author

    Full-time on-chain Data Analyst and Python Programmer. Passionate about Bitcoin and DataVisualization. Contact: Twitter

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