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Ripple XRP price facing heavy resistance – Cryptopolitan


Ripple XRP price movement has taken a slightly different road than the top two Bitcoin and Ethereum. Where the cryptocurrency is only one among the top three reporting gains in the past 24 hours.

Ripple XRP price succeeded in crossing the previous ascending triangle in the last 2 days but could not climb above the $0.192 resistance zone that was caused by a bearish 0.618 Fibonacci retracement. XRP is valued at $0176 at the time of this reporting.

Ripple XRP price chart 1 - 28th March 2020

Ripple XRP price chart by Coin Market Cap

Tentative Ripple XRP price predictions

At the time of writing the first resistance is at the $0.182 level and if we go above this, the resistance lies at the $0.192, $0.22 and $0.29.

The Relative Strength Index managed to go above 50, however, it has fallen back down to the mid-level since then. This fall signifies that the sellers have recovered control and thus would throw Ripple below the trend line.

Ripple XRP price chart 2 - 28th March 2020

Ripple XRP price chart by Trading View

Ripple XRP price bounced back impressively from the 2020 lows due to the cryptocurrency market crash. XRP took a jump of 13 percent during the last 3 days to reach near 2800 SAT. However, since then it has retracted and gone down to 2710 SAT level.

On the other hand, the initial resistance level is established at 2760 SAT, before this, the resistance was established at the 2800 SAT. So, from this, resistance is anticipated at 2850 SAT and 2900 SAT zones.

Ripple XRP price chart 3

Ripple XRP price chart by Trading View

The Relative Strength Index breaking above the 50-level signifies that buyers are regaining command over the market momentum. If this Relative Strength Index (RSI) manages to stay above the 50-level, Ripple XRP price would again rise back to the 2850 SAT level.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.



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