XRP/USD – Bullish Explosion Leads To 17 Month Highs
Key Support Levels: $0.4, $0.388, $0.378.
Key Resistance Levels: $0.48, $0.68, $1.00.
Today, XRP surprised everyone as it exploded by a powerful 32.5%. The cryptocurrency started the day at $0.33 as it started to push higher to reach as high as $0.44. It has since dropped slightly to trade at $0.413.
The cryptocurrency had been showing signs all month that it was ready to start a bull run, but nobody could have guessed this type of price explosion was incoming. The coin had broken out of a symmetrical triangle pattern at the start of the month as it started to push higher. XRP went on to reach $0.3 by mid-week and stalled here for a few days until it broke the resistance yesterday to reach $0.33.
XRP-USD Short Term Price Prediction
Looking ahead, if the buyers can continue this epic bullish push, the first two levels of resistance are found at $0.42 and $0.44. Above this, resistance lies at $0.457 (bearish .786 Fib), $0.48, $0.486 (1.272 Fib Extension), and $0.5.
On the other side, if the sellers push lower, the first level of support lies at $0.4. Beneath this, support lies at $0.388 (.236 Fib), $0.378, $0.36 (.382 Fib), and $0.35 (2020 High).
As expected, both the RSI and Stochastic RSI are extremely overbought with such a powerful push in one day.
Key Support Levels: $0.4, $0.388, $0.378.
Key Resistance Levels: $0.48, $0.68, $1.00.
Today, XRP surprised everyone as it exploded by a powerful 32.5%. The cryptocurrency started the day at $0.33 as it started to push higher to reach as high as $0.44. It has since dropped slightly to trade at $0.413.
The cryptocurrency had been showing signs all month that it was ready to start a bull run, but nobody could have guessed this type of price explosion was incoming. The coin had broken out of a symmetrical triangle pattern at the start of the month as it started to push higher. XRP went on to reach $0.3 by mid-week and stalled here for a few days until it broke the resistance yesterday to reach $0.33.
XRP-USD Short Term Price Prediction
Looking ahead, if the buyers can continue this epic bullish push, the first two levels of resistance are found at $0.42 and $0.44. Above this, resistance lies at $0.457 (bearish .786 Fib), $0.48, $0.486 (1.272 Fib Extension), and $0.5.
On the other side, if the sellers push lower, the first level of support lies at $0.4. Beneath this, support lies at $0.388 (.236 Fib), $0.378, $0.36 (.382 Fib), and $0.35 (2020 High).
As expected, both the RSI and Stochastic RSI are extremely overbought with such a powerful push in one day.
