Image default
Price Ripple

Ripple Price Analysis: After Losing 15% Weekly, Did XRP Finally Find a Bottom?

XRP bulls had failed to push the price above $0.4 over the past few days and are now trying to form a higher low to preserve the last chances for a bullish structure. However, the market is still under bears control.

Technical Analysis

Technical Analysis By Grizzly

The Daily Chart

On the daily timeframe, Ripple has lost 15% of its value in the past seven days, as the bears were able to push the price down to $0.30.

The intersection of the two descending trendlines (in yellow) as support and long-term horizontal support (in green) lies at $0.24. This area can be considered a potential demand zone.

Given that most of the indicators are in the oversold zone, it is expected that if the price reaches this zone, it will initiate a short-term relief correction.

However, due to macroeconomic events, Ripple will probably experience many fluctuations in the range between $0.3 and $0.24.

Key Support Levels: $0.30 & $0.24

Key Resistance Levels: $0.38 & $0.45

Moving Averages:


MA20: $0.33


MA50: $0.37


MA100: $0.54


MA200: $0.65

The XRP/BTC Chart

The situation in the BTC pair chart is a bit different.

The bulls were able to increase the price of Ripple against Bitcoin by 50%. This relief rally encountered horizontal resistance at 1800 SATs. Currently, the price has entered a corrective phase. If the buyers can defend the horizontal support at 1500 SATs (in green) and form a higher low, we can expect this price rally of XRP/BTC to continue higher.

Key Support Levels: 1500 Sats & 1250 SATs

Key Resistance Levels: 1700 Sats & 1800 SATs

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

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.

Read More

Related posts

Despite The Price, Great Things Are Happening In The Bitcoin Ecosystem

Ripple Introduces XRP Ledger Version 1.9.0, With XLS-20 Standard For NFT Support

Bitcoin Price Soars Above $41K on Biden’s Crypto Administrative Order Leak

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.