Ripple Price Analysis: Following a 60% Weekly Surge, What’s Next for XRP?

XRP/USD – XRP Rolls Over From $1.36 Resistance

Key Support Levels: $1.19, $1.10, $1.00.
Key Resistance Levels: $1.27, $1.36, $1.49.

XRP has been on an impressive run since breaking the bullish flag pattern at the start of August. By the end of last week, it had already hit the $1 level.

On Friday, it surged further beyond $1 as it broke the Feb 2018 highs at $1.25 on Saturday and reached as high as $1.36 (1.618 Fib Extension) yesterday. It has since rolled over from this resistance and dropped to $1.21.

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XRP/USD Daily Chart. Source: TradingView.

XRP-USD Short Term Price Prediction

Looking ahead, if the sellers push lower, the first support lies at $1.19 (.236 Fib). This is followed by support at $1.10 (.382 Fib), $1.00, and $0.928 (.618 Fib).

On the other side, the first resistance now lies at $1.27 (bearish .618 Fib). This is followed by $1.36 (1.618 Fib Extension), $1.49 (bearish .786 Fib), and $1.62 (bearish .886 Fib).

The daily RSi reached overbought conditions over the weekend and has since dropped lower. This indicates the buyers might need a little break before being able to continue higher.

XRP/BTC – XRP Meets 1.618 Fib Extension Resistance

Key Support Levels: 2565 SAT, 2380 SAT, 2200 SAT.
Key Resistance Levels: 2730 SAT, 2915 SAT, 3000 SAT.

XRP is also performing very well against BTC. The coin exploded above the 100-day MA at 2200 SAT over the weekend and reached as high as 2900 SAT yesterday.

More specifically, XRP was unable to close yesterday’s daily candle above 2728 SAT (1.618 Fib Extension) and ended up rolling over from there today to reach 2640 SAT.

xrpbtc-aug16-min
XRP/BTC Daily Chart. Source: TradingView.

XRP-BTC Short Term Price Prediction

Looking ahead, the first support below lies at 2565 SAT (.236 Fib). This is followed by 2380 SAT (.382 Fib), 2200 SAT (100-day MA), and 2000 SAT (20-day MA).

On the other side, the first resistance lies at 2730 SAT (1.618 Fib Extension). This is followed by 2915 SAT (bearish .618 Fib), 3000 SAT, and 3090 SAT (1.272 Fib Extension – blue).

Likewise, the RSI hit overbought conditions and dropped lower today. This indicates the market might retrace while the buyers take a break to regroup.

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Cryptocurrency charts by TradingView.


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