Buyers are still determined to defend the level of $ 0.3. The price has tested this support once in the current week.
Technical Analysis
By Grizzly
The Daily Chart
The price is currently at the Fibonacci level of 0.786 (in blue), which is at $0.3. If the bulls are successful in defending it, then the cryptocurrency might have a shot at moving towards the Fibonacci level of 0.618 at $0.44, which is now a horizontal resistance (in green). However, given the current market condition and overall momentum, this seems like the less likely case.
In the bearish scenario, if $0.3 breaks down, the support range at $0.17-$0.24 can be considered a potential reversal zone.
Key Support Levels: $0.30 & $0.24 & $0.17
Key Resistance Levels: $0.44 & $0.58
Moving Averages:
MA20: $0.37
MA50: $0.43
MA100: $0.6
MA200: $0.69
The XRP/BTC chart
Against BTC, the situation is entirely different. The price has increased by 20% in the last seven days. The bulls are now trying to break the critical resistance in 1550 Sats. If this happens, the next resistance is at 1700 Sats.
On the other hand, if buyers fail to push the price above the mentioned level, XRP may move towards horizontal support at 1250 Sats. Still, it remains to be seen how the bulls will perform in the coming days as market volatility remains sky-high.
Key Support Levels: 1250 Sats & 1100 Sats
Key Resistance Levels: 1550 Sats & 1700 Sat
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
