XRP price analysis: XRP hits 4-month high, here are the main levels to watch out for

XRP up nearly 77% from last week
XRP price hits 4-month Trend line
RSI becomes extremely перекупленным

What next for the price of XRP?
The price of XRP has had a tough year as they struggle with a lawsuit from the SEC and constant hatred against other community members. Despite all this, it has overtaken BTC & ETH along with many other cryptocurrencies over the past month. A breakout of BTC above the $ 40,000 price level saw XRP experience a strong rebound of about 150% compared to lows. The overall cryptocurrency market experienced a perfect August, as most coins experienced a surge in purchases not seen in months. 

Looking at the bottom of the chart, we see XRP bouncing back twice from the main support of $ 0.52. This has created a great double-dip training that starts the price like a feather! After the $ 0.77 – $ 0.83 main level cleared, the XRP price has not looked back since. For the price to continue this rise, the Bulls must move through a major resistance zone, which is at $ 1.31 – $ 1.39.

April May of this year is a significant level of resistance because we see how hard the price is trying to hold. Overcoming this region would push the xrp price to $ 1.50+.

XRP price analysis: 1-day XRP / USDT chart
At the time of writing, the price of xrp reached the trend line almost every 4 months. Overcoming this trend would be the last major trend to become clear before the potential new peak. However, we can assume that this will be some kind of Bull War. If that doesn’t break the trend line, the XRP price will probably come down to a small support level of $ 1.19. Should the Bears continue to lower the price, we can expect XRP to return to its main support area at$0.98- $ 1.09. That would be perfectly normal and it would be worth regaining your strength to go higher.

Looking at the stochastic RSI, we see it consolidating in the area of overbought. As long as

Join the Discussion

  • BrokerEUR/USD
    City Index 0.5pips (fixed) margin: 3.33%
    FX Pro 0.91pips. (variable) margin: 3.33%
  • Back to top