XRP Trades $1.36 After Surging by 11% From an 18%-Drop Last Week
California, USA – XRP price finally increased by 11% at a trading price of $1.36. The resistance trades at an ascending price while the support targets a lower angle.
XRP might have experienced a drop of 18% in the past weekend under the Fib Extension of 1.618. Even though there was a retracement, this crypto is still up by 11% after increasing from $1.00. Now, it trades inside an increasing price channel, attempting the support at a lower range. If there’s a break under the price channel, the price might head back to $1.
As for the XRP/USD pair, if the price breaks $1.10, the first support is at $1.00, and it’s followed by $0.928, $0.8282 and $0.75. On the other hand, the resistance is at $1.25, and it’s followed by $1.36, $1.40, and $1.50. Moreover, the daily RSI or Relative Strength Index dropped from overbought conditions, recording the fade of strong momentum. On the other hand, the bears can still control the moment if it’s over the midline.
XRP retraced against Bitcoin (BTC) after having a resistance level of 2730 SAT under the 1.618 Fib Extension. XRP dropped below 2600 SAT, and it continued to drop until the support was at 2780 SAT. Now, it attempts to climb over 2600 SAT.
The prediction for XRP/BTC is that the first support sits at 2380 SAT, followed by 2200 SAT, 2100 SAT and 2000 SAT. The first resistance lies at 2600 SAT, 2730 SAT, 2915 SAT, and 3000 SAT. As for the daily RSI, it’s dropping, and it’s showing that the bullish momentum is fading.
On another note, analysts anticipate the happenings on August 31 and October 15 as this crypto might reach its turning points.