Tag Archives: XRP Analysis

Unfortunately, we had another week of particularly choppy price action where most of the cryptocurrencies are trading in the red. Ethereum is an exception with a rather insignificant gain over the past seven days. Bitcoin Bitcoin is down a total of 4.7% over the past week as it breaks back beneath $33,000. The cryptocurrency started the week looking promising after double bottoming around $31,600. From there, it started to surge higher as it formed a short-term rising price...

XRP/USD – XRP Attempting Break Of June Downtrend Key Support Levels: $0.6, $0.556, $0.5.Key Resistance Levels: $0.7, $0.781, $0.8282. XRP found support at the 2019 highs of $0.556 last week. Since then, XRP has rebounded and established support at $0.6. The cryptocurrency has been trading beneath a descending trend line since the start of June. The recent rebound to $0.68 has allowed the coin to re-test this descending trend line. A break above should let XRP head back toward...

This week was a complete rollercoaster in the cryptocurrency market. Unfortunately, things failed to turn out for the better and the majority is trading in the red. Bitcoin Bitcoin is down a steep 11.7% this week as it currently trades beneath $34,000. The cryptocurrency started the week by dropping into support at $31,185 (downside 1.618 Fib Extension) on Monday. On Tuesday, it took a brief dive beneath $30K for the first time since January 2021. It dropped as low as...

The last week was rather challenging for altcoins as most of the major ones are trading in the red. Bitcoin managed to pull ahead a bit, which also resulted in an increase in its market dominance. Bitcoin Bitcoin is up by a very small 2.8% over the past week as it currently trades at $37,900 – just above the 20-day MA. The coin had provided some hope at the start of the week as it surged above $37,000 to break a falling trend line that has been in play since the mid-May...

XRP/USD – XRP Trades Sideways In Range Key Support Levels: $0.828, $0.8, $0.75.Key Resistance Levels: $0.92, $1.00, $1.05. XRP has been inside a trading range between $1.05 and $0.8282 since the end of May. It bounced higher from $0.8282 (2020 highs) at the end of May and pushed into the $1.05 resistance (bearish .382 Fib) at the start of June. Since then, XRP dropped beneath the 20-day MA and traded lower until support was found at $0.8282. Although the market has spiked...

XRP/USD – XRP Battling To Defend 2020 Highs Key Support Levels: $0.828, $0.8, $0.75.Key Resistance Levels: $0.92, $1.00, $1.05. Last week, XRP fell beneath an ascending triangle pattern after dropping below $1.00. Over the course of the week, XRP crashed to $0.8 but has battled to close each daily candle above the 2020 high at $0.8282. It is now struggling to break above the 20-day MA at around $0.92, and this will be the first resistance to overcome as a signal that the...

It was a rather unfortunate week for the entire cryptocurrency market as most of the coins are trading in the red. Bitcoin is no exclusion, though it’s the one the best performer, relatively speaking, compared to major altcoins. Bitcoin Bitcoin is down by a small 4% over the past week as it currently sits above the 20-day MA at $37,000. The cryptocurrency saw an interesting week after testing $39,200 last week. There, it found resistance at a falling trend line and failed to...

XRP/USD – XRP Spikes Into 2020 Highs Key Support Levels: $0.828, $0.8, $0.75.Key Resistance Levels: $0.9, $1.00, $1.05. XRP dropped by a sharp 9% over the past 24 hours as it falls beneath a rising trend line and spikes as low as $0.82 (2020 highs) today. The cryptocurrency started the month of June off by battling resistance at $1.05 (bearish .382). Unfortunately, this level actually formed the upper boundary of an ascending triangle pattern, and the buyers were unable to...

We saw another week of relatively choppy price action as the major cryptocurrencies failed to chart any serious gain. On the opposite – with a few exceptions, most of the coins underwater. Bitcoin Bitcoin is down by a total of 4.7% this week and is trading inside an ascending price channel as it battles to remain above the upper boundary at around $36,600. The cryptocurrency had an interesting week of trading after meeting the resistance at $40,760 (bearish .382 Fib) last...

It was another tough week in the cryptocurrency market where almost everything is trading in the red. Here’s how some of the major coins performed over the past seven days: Bitcoin Bitcoin is down by a total of 10.3% over the past seven days of trading as it currently sits around $36,000. The cryptocurrency had spiked as low as $31,185 (downside 1.618 Fib Extension) on Sunday, but the buyers managed to close the daily candle at $34,760 (downside 1.414 Fib Extension). From...