Tag Archives: XRP Analysis

Bitcoin Bitcoin saw an impressive 20% price hike this week as it reached the $40K resistance level. The cryptocurrency penetrated above a descending wedge formation last Thursday and continued above the 20-day MA level last Friday. Since breaking the wedge, BTC surged higher inside an ascending price channel as it broke the 50-day MA level for the first time since May and continued to hit the $40k resistance. It did spike above $40K, reaching $40,500 (bearish .382 Fib) but...

XRP/USD – XRP Hits 200-day MA. Key Support Levels: $0.7, $0.679, $0.6.Key Resistance Levels: $0.768-$0.782, $0.8282, $0.9. XRP saw an impressive 10% gain today after announcing a remittance corridor between Japan and the Philipines. It had surged up to 15% but has since retraced a bit. In addition, the coin managed to break the 20-day MA level at $0.6 on Monday and has since continued above it. Before this, XRP was trading inside a descending wedge formation which was...

XRP/USD – XRP Hits 50-day MA. Key Support Levels: $0.6, $0.556, $0.5.Key Resistance Levels: $0.69, $0.71, $0.77. XRP was trading inside a descending price channel since the start of June. However, the coin finally managed to break toward the upside last Thursday and hit the 20-day MA around $0.6 on Friday. Over the weekend, XRP battled with the 20-day MA but could not overcome it until today, when XRP surged 10%. The coin reached as high as $0.696 but found resistance at the...

Bitcoin Bitcoin saw a slight 2.3% price hike this week as it trades near $32,500. The cryptocurrency saw a very interesting week in which it spiked lower and produced a daily candle beneath $30K. It quickly rebounded from there and broke back above 30K to reach the 20-day MA at around $32,700. In doing so, BTC is now above a long-term descending wedge that it has been trading inside since mid-May. The coin was trading inside a descending triangle pattern at the start of the...

XRP/USD – XRP Breaks June Price Channel Key Support Levels: $0.556, $0.515, $0.5.Key Resistance Levels: $0.61, $0.7, $0.757. XRP fell as low as $0.515 this week during the BTC spike beneath $30K. It quickly rebounded from there to break above the 2018 high at $0.556 yesterday. Today, the price hike allowed XRP to break the upper angle of a descending price channel. The cryptocurrency has been trading inside this price channel since the start of June. It made numerous attempts...

XRP/USD – XRP Rejected At Price Channel Upper Angle Key Support Levels: $0.5, $0.478, $0.331.Key Resistance Levels: $0.55, $0.62, $0.7. The 6% price fall today caused XRP to break beneath $0.55 (2019 highs). It has been trading inside a descending price channel since the start of June. Last week, the coin was rejected at the upper angle of this channel on numerous days. Today, XRP dropped below a short-term falling wedge established at the start of July. As a result, it can...

Bitcoin Bitcoin dropped by 3% this week, reaching as low as $31,000. The cryptocurrency popped above the 20-day MA on Sunday but quickly reversed and dropped beneath it on Monday. It found support mid-week at $32,700 but continued beneath there yesterday to reach $31,185 (downside 1.618 Fib Extension) today. The short-term chart provides a closer perspective of what is going on. It shows BTC trading inside a falling price channel since the start of July. When BTC broke the...

Bitcoin After another volatile week, Bitcoin is currently down 2% on the weekly. BTC rebounded from $33K on Monday and pushed higher to meet the upper angle of a symmetrical triangle pattern, as seen on the charts below. Unfortunately, BTC could not break out and quickly rolled over from there into $33,520 support on Tuesday. After another failed retest of the upper angle on Wednesday (at $35K), BTC heavily rejected and broke to the downside. Since the breakdown of the...

XRP/USD – XRP Remains Inside June Falling Price Channel. Key Support Levels: $0.6, $0.556, $0.5.Key Resistance Levels: $0.7, $0.72, $0.781. XRP is down 5% this week as it struggles to break the 20-day MA near $0.7. It is also trading inside a falling price channel that was established at the beginning of June. Each time XRP attempted to break the price channel, the upper boundary rejected it. The volume remains low for XRP, and an increase in the volume would be required to...

XRP/USD – XRP Falls Short At 20-day MA Key Support Levels: $0.6, $0.556, $0.5.Key Resistance Levels: $0.7, $0.72, $0.781. XRP has been trading inside a falling price channel since the start of June. However, the cryptocurrency bounced from the lower boundary of this price channel at the end of the month and hit $0.7 at the start of July. Unfortunately, XRP has been unable to close a daily candle above $0.7 in July. Alongside the resistance provided by the upper boundary of...