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XRP Price Analysis: Ripple Soars 8% On The Daily, Is $0.30 Next?

cryptopotato.com 06 October 2020 08:00, UTC
Reading time: ~2 m

XRP/USD – Bulls Finally Break 100-days EMA Resistance

Key Support Levels: $0.243, $0.237, $0.228.
Key Resistance Levels: $0.251, $0.26, $0.271.

XRP found support at the $0.23 level at the start of October. It rebounded from this support yesterday to finally push higher above the resistance at the 100-days EMA – a level which the coin struggled with throughout last week.

After breaking the 100-days EMA, XRP climbed into the resistance at $0.251 – provided by a bearish .382 Fib Retracement. The psychological round number of $0.25 further bolsters the area. The following 4HR chart shows how XRP is now trying to breach this level.

XRP/USD 4HR Chart. Source: TradingView

XRP-USD Short Term Price Prediction

XRP/USD Daily Chart. Source: TradingView

Looking ahead, if the buyers manage to break $0.251, higher resistance lies at $0.26 (bearish .5 Fib), $0.271, and $0.28.

On the other side, the first level of support lies at the 100-days EMA at $0.243. Beneath this, support is located at $0.237 (200-days EMA), $0.228 (.618 Fib), and $0.22.

XRP/BTC – Buyers Break 2-Month-Old Falling Trend Line

Key Support Levels: 2300 SAT, 2250 SAT, 2200 SAT.
Key Resistance Levels: 2350 SAT, 2400 SAT, 2465 SAT.

XRP is also performing well against Bitcoin after it bounced from 2200 SAT yesterday to break above a 2-month-old falling trend line and reach the resistance at 2350 SAT (bearish .5 Fib Retracement). The following 4HR chart shows the reaction at this level.

XRP/BTC 4HR Chart. Source: TradingView

XRP is now supported by the 100-days EMA at around 2300 SAT after recently bouncing from here.

XRP-BTC Short Term Price Prediction

XRP/BTC Daily Chart. Source: TradingView

Looking ahead, if the bulls can break the resistance at 2350 SAT, additional resistance lies at 2400 SAT (200-days EMA), 2465 SAT (bearish .786 Fib), and 2500 SAT (bearish .886 Fib).

On the other side, the first level of support lies at 2300 SAT (100-days EMA). Beneath this, support lies at 2250 SAT, 2200 SAT, and 2170 SAT.

The RSI is above the mid-line to indicate the bulls have taken charge of the market momentum after an entire month of bearish control.

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