The digital currency market is currently stagnant with no major upward or downward correction. Bitcoin (BTC) – the most dominant digital currency in the market – is facing a stiff hurdle on the upside. The digital currency has been having troubles breaking over the $11,500 mark over the past day. Ethereum (ETH) – the second-largest digital currency by market cap – is also facing strong resistance on the upside. ETH USD price is waiting for a strong bullish momentum to push it over the $220 mark, which is the immediate resistance of the coin.
The third-largest digital currency by market cap – XRP (XRP) – is also facing a similar issue. XRP USD price recently plunged below the 30 cents mark. However, XRP price is now slightly over the 30 cents mark and it looks like it might continue surging higher. Will XRP USD price surge higher while Bitcoin (BTC) and Ethereum (ETH) are facing resistance?
XRP Price Analysis – XRP Price Prediction 2019 – Cryptocurrency Market Update – Cryptocurrency News Today
The price of XRP recently plunged against the US dollar and broke below several support levels. XRP USD price dipped and broke the $0.3050 and $0.30 support level. The 30 cents level failed to hold gains and XRP USD price plunged below the $0.2950 support level and the 100-hourly simple moving average. XRP USD price tested a new month low of $0.2897 after breaking below the 29 cents mark.
XRP was not the only coin correcting lower at this point. The price of Ethereum and Bitcoin (BTC) were also heading south. ETH USD price corrected lower towards the $200 support level before it started correcting higher. BTC USD price also plunged towards the $11k level before it started surging higher again. When the market started recovering, XRP USD price formed nice support over the 29 cents mark and surged over the 30 cents levels.
XRP also broke over the 23.6 percent Fibonacci retracement level of the previous swing from the high of $0.3316 to the low of $0.2897. There was also a break over a crucial bearish trendline with hurdle close to the $0.2990 on the 1-hour chart of XRP against the US dollar. XRP USD price surged over the $0.3050 resistance and it is presently consolidating over the 100-hourly simple moving average.
XRP (XRP) Price Today – XRP / USD
XRP Resistance and Support Levels – XRP USD Price Prediction 2019 – Cryptocurrency Market Update
At the press time, the digital currency is having a few challenges on the upside. The immediate resistance of XRP is the $0.3075 mark. However, there is another major resistance after that level, which is the 31 cents mark. XRP USD has not been able to break over that level over the past few days. Moreover, the 50 percent Fibonacci retracement level of the previous swing from the high of $0.3316 to the low of $0.2897 is close to the 31 cents area. Hence, XRP USD price will experience a major upward correction if it breaks over the $0.3075 and $0.31 resistance levels.
On the other side, the digital currency has found nice support close to the $0.2950 level. In addition, there is a formation of a connecting bullish trendline with support close to the $0.2950 mark. However, if XRP USD price falls below that level, the 29 cents support level is there to prevent further losses.