XRP Faces Significant Resistance Against BTC And USD Even As Other Cryptocurrencies Record Gains

Today, April 17 started with slight growth in the overall crypto market. Going by the market patterns, Smartereum understands that the top 20 digital assets have been on the rise including the price of XRP. However, Bitcoin SV was the only cryptocurrency that didn’t make the list of gainers. The digital asset has taken a hit since it was removed or delisted from Binance exchange and other exchanges threaten to delist as well.

Despite the fact that the crypto market has entered the’’green’’ zone today, it has lost $3 billion of its overall trade volume in the last 24 hours. One notable mention is Bitcoin’s domineering position. The digital asset gained a few points during this period after seeing a 52.4% increase in value according to CoinMarketCap. It is trading at $5,239.45 as of the time this report was published.

XRP (XRP) Price Today – XRP / USD

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XRP Price Prediction: Interest in XRP Increases Following Reports of Coincheck’s Add

Today also saw a significant amount of consumer interest in XRP. The price of XRP even moved above the $0.3225 spot against the USD. However, it failed in several attempts to overcome the $0.3229 price position.

One major reason for the growth in the price of XRP is the news of Coincheck’s rumored addition of the digital asset to its platform. Coincheck is said to be considering adding XRP to its new over-the-counter platform. Overall, today began in a positive way for crypto. The price of XRP stood at $0.323909 at the time this report was published. But has does XRP faired in the last few days and 24 hours in the build-up to today?

XRP Price Prediction: The Price of XRP in Strong Downward Pattern Vs BTC

The price of XRP reportedly extended losses below 0.0000670 BTC support. XRP was in a strong downtrend.

In the last few days, XRP experienced a strong decline against BTC going below the 0.0000670 BTC support position. However, XRP sellers stayed in control below 0.0000670 BTC managing to push the price of XRP below 0.0000640 BTC and 0.0000630 BTC which were both support levels.

From the chart, the price of XRP is clearly in a downtrend from 0.0000740 BTC. Later on, we saw a close below 0.0000670 BTC and the 100-day SMA which opened the way for a strong decline.

XRP Price Prediction: The Price of XRP Struggled to Gain Against BTC

XRP struggled to gain traction against BTC. A swing low formed at 0.0000619 which kept the price of XRP at risk of suffering more losses against BTC.

On the upside, we can see a strong resistance near 0.0000630 BTC and 0.0000630 BTC which is a crucial bearish pattern. The 23.6% Fibonacci retracement level via the last drop beginning from 0.0000689 BTC to 0.0000619 BTC is at 0.0000635 BTC.

The next significant resistance is 0.0000655 BTC which represents the 50% Fibonacci retracement position via the last drop from 0.0000689 BTC to 0.0000619 BTC.

To initiate a strong recovery, the price of XRP must break 0.0000635 BTC, 0.0000655 BTC and 0.0000670 BTC all resistance positions. Including the 100-day SMA. If additional losses should occur, there will be a risk of the price of XRP breaking below 0.0000615 BTC. The next major support position will be at 0.0000600 BTC where buyers likely take a stand.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.


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