XRP Faces Severe Resistance Before The Obvious Plunge To New Lows

XRP faces a new resistance wave after the slight increase of 3.15 percent against the USD as we read in the Ripple news previously here on DC Forecasts. Now the cryptocurrency has lost more than 16 percent over the last week and despite the recent bloodbath, XRP is doing well against the number one cryptocurrency-Bitcoin.

After losing a dramatic 40 percent over the past 3 months, XRP still remains the third-largest cryptocurrency with a market cap of $10.67 billion. According to the one –day charts of XRP/USD, the altcoin met some resistance at $0.3262 and started to fall over. During the recent declines, the altcoin dropped a lot and freefell until it managed to find support at $0.20. XRP recovered very soon after and it manage to close above the $0.2345 support level. The nearest level of resistance lies at $0.25 and above this, the resistance is located at a few pit stops including $0.2584, $0.27, $0.2811 and $0.30. The latest resistance level is powered by the 100-days EMA and the higher resistance is also expected at $0.31.

Looking from below on the charts, the nearest support lies at $0.2345 and beneath this, the support lies at $0.2250 and $0.2150. even below this, the support lies at $0.20 and $0.1848. The trading volume has increased significantly during the second half of September. The stochastic RSI is warming up for a bullish crossover signal which is expected to send the market higher. Against Bitcoin, XRP faces a relatively well performance. The cryptocurrency rebounded higher from the 2710 SAT support level and is now trying to break above the 3000 SAT.

If the bulls break the 300 SAT, a much higher resistance will be met at 3112 SAT and 3200 SAT. If the buyers break the 3400 SAT, the resistance will be patiently waiting at the 33568 SAT. The nearest level of support from below is laying at 2798 SAT. The trading volume has also increased during the second half of September according to the xrp news today. The RSI managed to rebound at the 50 level which shows that the bulls remain in total control over the market momentum.