- XRP increased by a total of 3.5% over the past 24 hours of trading as the cryptocurrency rises into the $0.20 resistance level.
- The cryptocurrency has increased by a total of 15% over the past week after increasing from the $0.18 level.
XRP has been on a surge recently after rallying from the $0.18 level to reach the $0.20 level over the past couple of days. The cryptocurrency is now facing major resistance here but a break above this level could see XRP hitting $0.25 by the end of the week.
XRP has been increasing ever since it managed to break above the resistance at $0.166 during late March 2020. It is now facing resistance at a bearish .382 Fibonacci Retracement level.
XRP Price Analysis
XRP/USD – Daily CHART – SHORT TERM
XRP/USD. Source: TradingView
Analyzing the daily chart above, we can clearly see XRP exploding once it managed to break above the $0.18 resistance level. It has now met resistance at $0.20 which is provided by a bearish .382 Fibonacci Retracement level that is measured from the February 2020 high to the March 2020 low.
Short term prediction: BULLISH
XRP is now considered to be bullish in the short term but must break above the $0.20 level for this bullish run to continue.
If the bulls can break $0.20, the first level of resistance is located at $0.211. Above this, resistance lies at $0.22, $0.229 (bearish .5 Fib Retracement), $0.24, $0,25, and $0.257 (bearish .618 Fibonacci Retracement level).
On the other hand,