Ripple (XRP), which fell 10% during the week, was traded at 950 SAT against Bitcoin, but could not maintain support at the 1000 SAT level.
The last few days have been interesting for Ripple
XRP had a few interesting days as it rose as high as $ 0.685 (1.272 Fib Extension) on Monday when the rest of the market also fell sharply. At the end of the day, XRP fell to $ 0.56 to close the daily candle.
Yesterday XRP dropped below $ 0.5 and fell as low as $ 0.36, having a sharp decline. The bulls quickly regrouped and let him close the daily candle at $ 0.47. Today, XRP appears to be trending bearish as it struggles to stay above the support around $ 0.45 (.5 Fib).
Key levels to watch for XRP
Looking ahead, initial support lies at $ 0.45. This is followed by $ 0.4 (0.618 Fib and 100-day EMA), $ 0.36 at $ 0.35 (200-day EMA and February 2020 Highs) and $ 0.372 (0.786 Fib).
On the other hand, the initial resistance is at the $ 0.5 level. This is followed by $ 0.556, $ 0.6 and $ 0.65 (bearish 0.786 Fib). Additional resistance lies at $ 0.685 and $ 0.718.
The RSI recently fell below the midline, indicating that the bears are regaining control of market momentum. If it continues to decline, XRP can be expected to return to $ 0.4 (100-day EMA).
- Key Support Levels: $ 0.45, $ 0.4, $ 0.36
- Key Resistance Levels: $ 0.5, $ 0.556, $ 0.6