Tag Archives: XRP Analysis

XRP/USD – XRP Breaking Down the Ascending Channel. Key Support Levels: $1.10, $1.00, $0.92. Key Resistance Levels: $1.25, $1.28, $1.36. Following the market’s heavy correction, XRP dropped a sharp 8% over the past 24 hours as it fell from the Feb 2018 highs of $1.25 towards the current $1.14 level. The cryptocurrency was trading inside an ascending price channel since the start of August and struggled to break previous resistance at $1.28 (bearish .618 Fib) over the past...

Ethereum Ethereum saw a 5.4% price hike this week as the coin sits around $3200. It surged above $3200 last Friday to meet resistance near $3350, provided by a bearish .618 Fib Retracement level. Unfortunately, it could not overcome this level and ended up rolling over from there. Throughout the week, ETH headed lower as it slipped beneath $3000 until support was found on Wednesday at $2960, provided by a .236 Fib and bolstered by the 20-day MA. It has since bounced higher...

XRP/USD – XRP Holds .382 Fib Support Key Support Levels: $1.10, $1.00, $0.928.Key Resistance Levels: $1.25, $1.36, $1.40. XRP has dropped a total of 18% since reaching $1.36 (1.618 Fib Extension) over the weekend. Despite this retracement, the coin is still up 11% over the week after surging from beneath $1.00. The cryptocurrency is currently trading inside a wide ascending price channel and is currently testing the support at the lower angle. It is further bolstered by a...

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...

Bitcoin Bitcoin saw a strong 13.9% price hike this week as the cryptocurrency continues the bullish run that started in late July when it penetrated above the descending wedge consolidation pattern. Last Friday, BTC was trading beneath $42,000 but eventually surged higher above the resistance by the end of the day. By the weekend, BTC managed to hit the 200-day MA level at around $44,750. It continued to surge higher on Monday to hit $46,500. However, BTC stalled there and...

XRP/USD – XRP Slips Back Below $1 Key Support Levels: $0.932, $0.88, $0.8282.Key Resistance Levels: $1, $1.10, $1.21. Since breaking the bullish flag pattern at the start of August, XRP climbed above the 200-day MA and the 2020 highs of $0.8282 to hit the 100-day MA. The 100-day MA was finally breached yesterday after Ripple announced a partnership with GME Remittance. The partnership caused XRP to surge beyond the 100-day MA at $0.88, break $1, and reach as high as $1.10....

XRP/USD – XRP Breaks Bullish Flag And Pokes Above 2020 Highs Key Support Levels: $0.8, $0.78, $0.7.Key Resistance Levels: $9.8282, $0.89, $1. XRP formed a bullish flag last week after retracing from the 200-day MA resistance at the end of July. The breakout of this flag pattern occurred over the weekend, which allowed it to break above resistance at $0.781 (bearish .236 Fib), climb above the July high, and poke beyond the 2020 high at $0.8282. The 4-hour chart shows the...

Bitcoin Bitcoin surged 8% today as it reclaims $40K but is just up 2% on the week. Last Friday, Bitcoin was trading inside an ascending price channel as it breached the January 2021 high at $42,000 to reach as high as $42,400 over the weekend. From there, BTC rolled over and broke beneath the ascending price channel on Monday. It then traded downward inside a descending wedge formation – best seen on the 4-hour chart. This wedge saw the price of BTC being driven lower until...

XRP/USD – XRP Forms Bullish Flag Pattern. Key Support Levels: $0.7, $0.658, $0.6.Key Resistance Levels: $0.72, $0.828, $0.9. XRP performed well in the final weeks of July as it surged inside an ascending price channel, allowing it to reach the 200-day MA at $0.78. Unfortunately, it has since been unable to overcome the 200-day MA in August and has since started to retrace to $0.7. The market has now formed a bullish flag pattern as the buyers attempt to defend the lower angle...

XRP/USD – XRP Struggles With 200-day MA Resistance Key Support Levels: $0.71, $0.667, $0.638.Key Resistance Levels: $0.781, $0.828, $0.89. This week’s 21.5% surge for XRP saw the coin climb above the 20-day MA around $0.6 to reach the current $0.74 level. It broke above a descending wedge formation over the past fortnight and started to surge inside an ascending price channel. The price channel allowed XRP to break the 50-day MA last week, but the coin is now struggling to...