XRP Range-bound After Last Week Crash – What Next?

XRP gained 3.5% over the previous day, establishing a $1.05 – $1.14 range after the market crash early last week. Against Bitcoin, Ripple’s token struggles to settle beyond the 50-day Moving Average.

XRP/USD – XRP Prints Narrow Range

• Critical support zones – $1.05, $1.00 and $0.95
• Critical resistance zones – $1.14, $1.17 and $1.25

XRP established a range from $1.05 to $1.14 after crashing below $1.40 last week Tuesday. .5 Fibonacci provides the support zone at $1.05, now reinforced by the 50-day Moving Average. Remember, the token has plunged below $1.05 several times but managed to register daily candled beyond the level. Meanwhile, the $1.14 resistance acted as support during the August sessions. XRP has to overpower this level to end its current price range.

XRP-USD Near-Term Price Forecast

For now, XRP’s initial support level lies near .5 Fibonacci and 50-day Moving Average ($1.05). The following ones stand at $1.00, .618 Fibonacci ($0.95), 200-day Moving Average ($0.92), and 100-day Moving Average ($0.86). On the other part, the initial resistance zone is at $1.14, followed by a 20-day Moving Average ($1.17), Feb 2018 high ($1.25), and August peaks & 1.618 Fibonacci extensions ($1.36).

The Relative Strength Index remains marginally under the midline, showing that the previous bullish strength has diminished. The RSI has to rise over the midline for market momentum to support XRP past its current range.

XRP/BTC – Bulls Struggle, Defending the 50 day MA

• Critical support zones – 2,290 BTC, 2,200 BTC, and 2,000 BTC
• Critical resistance zones – 2,430 BTC, 2,600 BTC and 2,800 BTC

XRP also trades lower against Bitcoin as bulls try to defend the support at 50-day Moving Average near 2,290 BTC. The coin failed to conquer the 2,670 BTC resistance last week. With that, it plunged towards 2,400 BTC following Tuesday’s sudden crash. The token saw downside moves since then, securing support around the 50-day Moving Average today.

XRP/BTC Near-Term Price Forecast

The pair has its initial support level at 2,290 BTC (50-d MA &.382 Fibonacci), followed by 2,200 BTC (100-d MA & .5 Fibonacci), 2,000 BTC (200-d MA & .618 Fibonacci), and 1,900 BTC (2020 July low). Meanwhile, the first resistance stands at 2,430 BTC (20-d MA). The following ones are 2,600 BTC, bearish .5 Fibonacci (2,670 BTC), 2,800 BTC, and 2,915 BTC (bearish .618 Fibonacci).

On the other part, the RSI is below the midline, suggesting growing bearish momentum. If the token continues to plunge, the magnifying selling pressure might push XRP lower under the 50-d Moving Average against Bitcoin.

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