XRP/USD – XRP Drops To 200-Days EMA SupportKey Support Levels: %excerpt%.3, %excerpt%.286, %excerpt%.25.Key Resistance Levels: %excerpt%.35, %excerpt%.4, %excerpt%.435.Yesterday, XRP dropped below %excerpt%.5 and penetrated beneath a symmetrical triangle pattern to meet the %excerpt%.45 support. It did spike much lower yesterday as it hit the 100-day EMA; however, the buyers regrouped to allow the daily candle to close above %excerpt%.45.Today, XRP continued to fall by another 27.5% as it plummeted beneath %excerpt%.4 (100-day EMA) and carried on dropping below %excerpt%.35 to hit the current support at %excerpt%.33, provided by the 200-day EMA.XRP/USD Daily Chart. Source: TradingViewXRP-USD Short Term Price PredictionLooking ahead, if the sellers continue to break beneath the 200-days EMA, the first level of support is expected at %excerpt%.3. This is followed by %excerpt%.286 (.886
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Yaz Sheikh considers the following as important: Ripple (XRP) Price, XRP Analysis, xrpbtc, xrpusd
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XRP/USD – XRP Drops To 200-Days EMA Support
Key Support Levels: $0.3, $0.286, $0.25.
Key Resistance Levels: $0.35, $0.4, $0.435.
Yesterday, XRP dropped below $0.5 and penetrated beneath a symmetrical triangle pattern to meet the $0.45 support. It did spike much lower yesterday as it hit the 100-day EMA; however, the buyers regrouped to allow the daily candle to close above $0.45.
Today, XRP continued to fall by another 27.5% as it plummeted beneath $0.4 (100-day EMA) and carried on dropping below $0.35 to hit the current support at $0.33, provided by the 200-day EMA.
XRP-USD Short Term Price Prediction
Looking ahead, if the sellers continue to break beneath the 200-days EMA, the first level of support is expected at $0.3. This is followed by $0.286 (.886 Fib), $0.25, and $0.215 (November lows).
On the other side, resistance is first expected at $0.35 (Feb 2020 Highs). This is followed by $0.4, $0.435, and $0.45.
As expected, the RSI has dropped into extremely oversold conditions as the bearish momentum reaches the highest level since March 2020. Additionally, the volume has increased substantially during the latest round of selling over the past two days.
XRP/BTC – XRP Falls Into Fresh 3-Year Lows.
Key Support Levels: 1200 SAT, 1015 SAT, 867 SAT.
Key Resistance Levels: 1555 SAT, 2000 SAT, 2100 SAT.
Against Bitcoin, XRP fell into a fresh 3-year low today. It had dropped beneath the 200-days EMA level on Monday as the bearish momentum started to increase. Yesterday, XRP fell beneath 2000 SAT to close the day near 1900 SAT.
Today, the 27% price fall caused XRP to fall beneath the November lows at 1555 SAT as it meets the 1400 SAT level. This level has not been seen for XRP/BTC since December 11th, 2017. In fact, XRP dropped by an extreme 68% from the 4200 SAT high seen during November.
UPDATE: XRP continued to drop further at the time of writing and has penetrated beneath 1400 SAT to trade at 1350 SAT.
XRP-BTC Short Term Price Prediction
Looking ahead, the first level of strong support beneath 1400 SAT lies at 1200 SAT (December 2017 Lows). This is followed by 1015 SAT (downside 1.618 Fib Extension), 1000 SAT, and 867 SAT. Added support lies at 700 SAT and 590 SAT.
On the other side, resistance first lies at 1555 SAT. This is followed by 2000 SAT and 2100 SAT.
Likewise, the RSI has now reached extremely oversold conditions. However, the momentum is still not as oversold as it was during the late October move, suggesting there is much more pain ahead for XRP/BTC.