Buyers Struggling To Reclaim $1.
Key Support Levels: $0.95, $0.876, $0.8282. Key Resistance Levels are $1.05, $0.15, and $1.25.
On Monday, XRP dropped below the $1.05 floor and fell to $1.05. The 200-day MA support level was $0.875 (.618 fib) and the 200 day MA until support was $0.875 (.618 Fib). The 100-day MA level further supported XRP’s rebound.
XRP then broke the 200-day MA at $0.85, and climbed back above $1. The bulls have not yet gained ground above $1.00.
Daily Chart: XRP/USD Source: TradingView.
XRP-USD Short Term Prediction of Price
The first resistance is located at $1.05. The next resistance is at $1.05.
The 200-day MA is the first support at $0.95. The next support is $0.876 ($.618 Fib and 100-day MA), $0.8282 (20th century highs) and $0.8 (downside 1.2772 Fib Extension).
As the selling momentum continues, the RSI has been below the midline throughout September.
XRP/BTC Rebounds from 100-day MA Support
Key Support Levels: 2225 SAT, 2100 SAT, 2075 SAT. Key Resistance Levels are 2350 SAT and 2400 SAT.
XRP is also showing a rebound in comparison to BTC. On Monday, the cryptocurrency dropped below 2225 SAT (.5 fib), and fell as low as 2050 SAT on Tuesday. Fortunately, bulls rallied above 2150 SAT at the end of the day to use the 100-day MA Support at 2100 SAT on Tuesday and Wednesday.
Yesterday’s XRP rebounded from its 100-day MA, and surged above 2200 SAT to as high as 2300 SAT. Today, it is at 2250 SAT.
Daily Chart XRP/BTC Source: TradingView.
XRP-BTC Short Term Prediction of Price
The first resistance is at 2350 SAT (50 day MA & 20 day MA). The 2400 SAT and 2500 SAT are next.
The second support is at 2225 SAT (0.5 Fib). The next support is at 2225 SAT (100-day MA &200-day MA), 2075 SAT (0.618 Fib), 2000 SAT.
The RSI is below the midline, which indicates that the sellers are still in control of market momentum.
Marla Brooks – Financial Analysis
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