- Ripple XRP is Currently Approaching a Crucial Resistance Level
- A Rise Above the Resistance at $0.2450 Will Lead to Higher Highs Near-term
XRP Price Prediction 2020 – The XRP token has lost the support at $0.2380 which it held yesterday amid the bearish price correction. Things took a bearish turn after the token failed to clear the resistance at $0.2450 that was required to make higher highs near-term. The XRP token is now at risk of trading well below the support at $0.2200 since it is no longer settled above the 100-day simple moving average. The token is down by more than 4% against the USD. If the token doesn’t remain above the support at $0.2280 today, it will test $0.2200 before the end of trading today.
At the time of writing, the price of the XRP token was $0.230454. This means that it is down by 5.63% against the USD and down $1.39% against Bitcoin BTC. The trading volume over a 24 hour period was $1,925,068,553 and the market capitalization was $10,407,837,650. The XRP price analysis on NewsBTC shows that the XRP token has broken the 50% Fib retracement level of the last surge from $0.2193 to $0.2550.
The XRP token has now formed support at $0.2300, $0.2280, and $0.2200 with resistance at $0.2380, $0.2400, and $0.2450. The relative strength index and other technical indicators are moving toward the bearish zone. The MACD is moving below level 50 and this is a bearish signal. XRP is dangerously moving toward the $0.2300 level which happens to the 61.8% Fib retracement level of the last surge from $0.2195 to the $0.2550 level.
If the XRP token falls below the support at the $0.2300 level, the next support will be at $0.2280. A fall below the $0.2280 level will take XRP back to $0.2200 and there is a strong chance that it will test $0.2150 lows if this happens. If the price doesn’t take the bearish turn, it will maintain stability around the $0.2300 level for the next few trading sessions. These are the two most likely sceneries for XRP near-term but they aren’t the only ones.
XRP might recover higher if the bulls gain momentum before the end of trading today. First, it must hold the line at $0.2300. A short-term correction will take place and the price will most likely retest the resistance at $0.2400 which is above the 100-day simple moving average. The most significant resistance near-term is at the $0.2450 level. The bulls will gain momentum above this level. Bitcoin BTC’s price action over the next few sessions will also hell us determine if the altcoins will rise or fall.