September 30, 2022

Ripple Price Analysis: XRP Loses 9% in a Week But a Big Move Could be Ahead

2 min read

XRP/USD – – XRP Falls Beneath 20-day MA and Forms Triangle.

Key Support Levels: $1.10, $1.05, $0.92.
Key Resistance Levels: $1.25, $1.28, $1.36.

XRP failed to break $1.27 (bearish.618 Fib) recently on the 3rd attempt to conquer the level. As a result, the coin started to fall throughout the week until support was found on Thursday at around $1.05, supplied by the lower angle of the triangle.

It rebounded from there over the weekend however might not break the upper angle of the triangle at around $1.20. As an outcome, XRP fell beneath the 20-day MA today as it heads lower. The apex of the triangle is quickly approaching, and a breakout in any instructions can still be anticipated.

XRP/USD Daily Chart.

Source: TradingView. XRP-USD Short Term Price Prediction Looking ahead, the first support lies at$1.10(.382 Fib & lower angle of the triangle ). This is followed by $1.05,$1.00, and$0.928(.618 Fib). On the other side, the first resistance lies at$1.15(

20-day MA & upper angle of triangle ). This is followed by$ 1.27 (bearish.618 Fib),$1.36(1.618 Fib Extension ),$1.49( bearish.786 Fib), and $1.61(bearish.886 Fib). The RSI is heading lower but still remains above the midline, showing weak bullish momentum within the marketplace. A break below the midline could send XRP underneath the triangle and back towards $ 1. XRP/BTC – XRP Continues To Trade Inside Descending Wedge

Secret Support Levels: 2290 SAT, 2150 SAT, 2000 SAT.
Secret Resistance Levels: 2455 SAT, 2500 SAT, 2670 SAT.

Versus BTC, XRP has been trading inside a coming down wedge pattern considering that striking resistance at 2730 SAT previously in the month. Last week, the coin found support at 2290 SAT (.382 Fib Retracement) and rebounded from there on Friday.

Over the weekend, XRP failed to conquer the upper angle of the wedge and began to head lower. It is trying to hold the support around 2300 SAT as the buyers try to find a breakout toward the advantage of the wedge.

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

Looking ahead, the very first support lies at 2290 SAT (.382 Fib). This is followed by 2156 SAT (.5 Fib & & 100-day MA), 2000 SAT (.618 Fib), and 1900 SAT (200-day MA).

On the other side, the very first resistance lies at the upper angle of the wedge. This is followed by 2455 SAT (20-day MA), 2500 SAT, 2670 SAT (bearish.5 Fib), and 2730 SAT.

The RSI is likewise trading along the midline here, indicating indecision within the marketplace.