Following Long Consolidation, Can XRP Retest 2020 High At $ 0.78?

XRP / USD: Stay Ripple For Next Move

Key Resistance Levels: $ 0.6, $ 0.678, $ 0.78

Key Support Levels: $ 0.50, $ 0.437, $ 0.33

XRP / USD. Source: TradingView

After breaking out of crucial resistance on Wednesday, Ripple touched $ 0.68 and withdrew to where it is now consolidating at $ 0.577. Volatility is low at the moment but could resume its bullish momentum as soon as it finds key support. While the market remains uncertain, it has gained 12% in the past week.

Given the mid-week cut, the market seems likely to be in favor of the bulls. For this to happen, though, the purchase volume needs to increase a lot compared to its current levels.

XRP-USD: Resistance and Support Levels

As we wait for the next big move, the important level to watch is the $ 0.6 resistance. This is followed by resistance levels of $ 0.678 and $ 0.78 over the next few days as the latter is also high every year.

In the opposite direction, XRP is looking for support at the RSI 50 and zero MACD levels. If these indicators fail to hold, there is support at the $ 0.50 level. Support to watch below this is $ 0.437, which is inside the green call zone. Below it lies the $ .33 breakout level from November.

XRP / BTC: Ripple Yet to Find Big Bounce

Key Resistance Levels: 2818 SAT, 3600 SAT, 4200 SAT

Key Support Levels: 2000 SAT, 1800 SAT, 1500 SAT

xrpbtc_chart
XRP / BTC. Source: TradingView

As the price of Bitcoin continues to rise (to a new high of $ 24200 yesterday), Ripple has not found a major rebound level after a three-week correction. The price is currently trading slightly above the essential support level of 2400 SAT. While the trend continues to favor the bears, the bulls are still struggling to break back in the market.

But looking at the market from a technical perspective, positive action could be predicted if this level of support can produce a rebound. If not, the third-largest coin by market cap could be a testament to another sale. Currently, the price is down about 2% against Bitcoin.

XRP-BTC: Resistance and Support Levels

If this coin manages to bounce back above the support above, the immediate resistance to keep in mind is 2818 SAT. After this, further resistance is found at the 3600 SAT level, followed by the 4200 SAT – where the withdrawal started last month.

However, a fall below 2400 SAT can cause more pain. Below the long-term descent line, support is 2000 SAT. Next support is 1800 SAT and 1500 SAT.

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Cryptocurrency charts by TradingView.

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