XRP managed to hold the support at the $0.30 and bounced higher. It’s now trading at around $0.3139 after seeing a sharp 26% price drop over the past 30 days.
Ripple remains the third-largest cryptocurrency with a market cap of $13.53 billion. XRP is also showing promising signs against BTC as it attempts to hold above the 3000 SAT level.
Looking at the XRP/USD 1-Day Chart:
- Since our previous XRP/USD analysis, XRP fell further beneath the $0.3177 support and got to as low as $0.30. We can see that the cryptocurrency dropped below $0.30 for a short while but found support at around $0.28 before rising back above the $0.30 level.
- From above: The nearest level of resistance lies at $0.32, $0.34, and $0.35. If the bulls climb above $0.35, higher resistance lies at $0.3610, $0.3670, and $0.3750. The resistance at $0.3750 is bolstered by both the 100 days and 200 days EMAs.
- From below: The nearest level of support now lies at $0.31 and $0.30. The support at $0.30 should be expected to remain strong moving forward, however, if XRP does fall beneath we can find support below at $0.2890, $0.28, $0.2747, and $0.27.
- The trading volume has dropped slightly from the June levels but remains high relative to the rest of the year.
- The Stochastic RSI has recently produced a bullish crossover signal in oversold territory as we wait for the RSI to try and break above 50.
Looking at the XRP/BTC 1-Day Chart:
- Against Bitcoin, we can see that XRP has done well to not travel too far beneath the 3000 SAT level, being supported at around 2800 SAT. XRP has now climbed back above 3000 SAT but has met resistance at 3370 SAT.
- From above: If the bulls can break above 3370 SAT, higher resistance lies at 3500 SAT, 3630 SAT, and 4000 SAT. Above 4000 SAT, further resistance lies at 4377 SAT and 4750 SAT which is further bolstered by the 100 days EMA.
- From below: If the sellers push XRP below 3000 SAT again, we can expect initial support at 2800 SAT and 2710 SAT. Beneath this, further support lies at 2500 SAT, 2455 SAT, 2200 SAT, and 2000 SAT.
- The trading volume has remained quite high during the recent rebound.
- The RSI is currently battling with the 50 level as the bulls attempt to take control over the market momentum.
The post Ripple Price Analysis: XRP Maintains The $0.30 Support, Points Bullish? appeared first on CryptoPotato.