In recent developments, while many altcoins have lost value, Ripple continues to maintain its silence during the rising period in the crypto market. Especially in the XRP/BTC pair, the lowest levels of recent times are being observed, and Ripple continues to face selling pressure. So, what is expected for XRP in the coming period? Let’s examine together.
Ripple Chart Analysis
The daily XRP chart’s ascending channel formation continues to provide clues to investors. The absence of a support or resistance breakout in this formation structure is of great importance. For XRP, which has recently closed below the EMA 200 (red line) level, resistance breakouts should be carefully monitored during this period.
The most important support levels to be monitored on the daily chart for XRP are, in order; 0.5531 / 0.5403 and 0.5203 dollars. Particularly, a daily bar close below the 0.5531 dollar level, which plays a significant role in the last bar closures, will lead to a loss of momentum in the XRP price.
The most important resistance levels to be monitored on the daily chart for XRP are, in order; 0.5838 / 0.5983 and 0.6272 dollars. Especially, a daily bar close above the 0.5838 dollar level, which intersects with the EMA 200 and EMA 21 (blue line), will significantly accelerate XRP’s momentum.
XRP/BTC Chart Analysis
Since May 2022, there is a wedge formation in the XRP/BTC pair. This formation structure provided significant clues to investors until the last days of 2020, but a support break occurred alongside the rise in Bitcoin‘s price. Following this break, the XRP/BTC level saw its lowest in recent years.
The most important support levels to be monitored on the weekly XRP/BTC chart are, in order; 0.00001185 / 0.00001087 and 0.00000976. Particularly, a weekly bar close below the 0.00001185 level, which has been acting as support in the last bar formations, indicates that XRP will continue to lose value against Bitcoin.
The most important resistance levels to be monitored on the weekly XRP/BTC chart are, in order; 0.00001335 / 0.00001469 and 0.000001562. Especially, a weekly bar close above the 0.00001469 level will allow the XRP/BTC level to trade again within the formation zone, indicating an increase in XRP’s momentum.
