XRP Price Analysis – October 14
Ripple (XRP) has effortlessly zoomed above $0.27 before refreshing levels above $0.30. All the technical levels remain positive, especially with the RSI (14) moving towards the overbought zone.
Resistance levels: $0.32, $0.34, $0.36
Support levels: $0.24, $0.22, $0.20
At the time of writing, the Ripple price continues to show a strong uptrend on the chart, as well as increasing the trend line that has served as a diagonal resistance for the market since October 1st. After recovering from the September 24th sell-off, the price action now moves well above the 21-day MA and the resistance levels to watch are $0.32, $0.34 and $0.36 respectively.
However, if Ripple’s XRP tries to drop below the $0.27, the market may fuel a bear run to $0.24, $0.22, $0.20 support levels and below. But presently, the bulls are still the dominant of the market on a long-term outlook. Therefore, it might be so difficult for the bears to step-in at the moment. The RSI (14) is moving towards the overbought zone, indicating more bullish signals.
Against Bitcoin, Ripple price surged upwards of over $150 in the past 24 hours, catapulting its price above the 21-day MA starting from 3350 SAT to reach where it currently trades at around 3506 SAT. This sudden rise also pushed the price overall other altcoins, which increased by more than 3.71% in the respective period. However, the closest resistance levels lie at 3800 SAT and 4000 SAT.
Nevertheless, if the sellers drag the price below the current 3506 SAT, the next level of support is located at 3200 SAT and more supports could be found at 3000 SAT and 2800 SAT. After recording its highest since two months ago, the RSI indicator surged along with the price, moving into the overbought territory which may likely introduce bearish signals back into the market.
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