December 6, 2022

Ripple Price Analysis: While Crypto Explodes, XRP Stuck at $0.22 Amid the SEC Saga

2 min read

XRP/USD – – Bulls Defending $0.22 Support So Far In January

Key Support Levels: $0.22, $0.2, $0.171.
Key Resistance Levels: $0.25, $0.285, $0.3.

After a dreadful end to 2020, in which XRP tanked by a severe 75%, following the SEC lawsuit, the coin tries to develop a strong assistance base at $0.22 (November 2020 lows). Up until now, it has actually closed each day-to-day candle above this level in January.

The cryptocurrency did increase below $0.2 on three celebrations this month, however the bulls regrouped to bring XRP above $0.22 by the end of each day.

XRP/USD Daily Chart.

Source: TradingView XRP-USD Short Term Price Prediction Looking ahead, if the purchasers continue to drive greater, the very first level of resistance lies at $0.25. This is followed by $0.285(bearish.236 Fib), $ 0.3, and $ 0.325 (200-days EMA). On the other side, the first level of support lies at $ 0.22 (November 2020 low ). This is followed by $ 0.2, $ 0.171(July 2020 low ), and $ 0.15. The RSI bounced from incredibly oversold conditions at the end

of December and is gradually starting to grind higher,

suggesting the bearish momentum is alleviating up. XRP/BTC – Bulls Establish Support at 670 SAT Secret Support Levels: 670 SAT SAT, 590 SAT,

500 SAT. Secret Resistance Levels: 867 SAT, 1000 SAT, 1200 SAT. Against Bitcoin, XRP dropped below the support at 1000 SAT toward the end of 2021 and continued to slide up until 670 SAT in January. This is an 80% rate drop from the December 2020 highs.

Nonetheless, the coin managed to close above 670 SAT for each day in January so far, and the bulls pushed somewhat greater today to trade at 765 SAT.

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XRP/BTC Daily Chart. Source: TradingView XRP-BTC Short Term Price Prediction

Progressing, if the buyers press up, the very first level of strong resistance lies at 867 SAT. This is followed by 1000 SAT, 1200 SAT (December 2017 lows), and 1425 SAT.

Additionally, the first level of support lies at 670 SAT. This is followed by 590 SAT (disadvantage 1.618 Fib Extension), 500 SAT, and 438 SAT.

Likewise, the RSI here bounced from oversold conditions and is gradually grinding greater as the bearish momentum reveals tips of fading away. Additionally, the Stochastic RSI is primed for a bullish crossover signal.