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Ripple (XRP) Bulls Defend 100 DMA – What Next?

XRP losses 2.5% since yesterday as it continue to defend the 100-day Moving Average support of around $0.875. Against Bitcoin, Ripple’s token calms beyond the climbing trend-line support near 2,200 SAT.

XRP-USD – Bulls Still Hold 100 DMA

  • Vital support levels – $0.875, $0.8282 and $0.8
  • Vital resistance levels – $0.95, $1.0 and $1.05

XRP may be under the critical $1 mark, but it is performing well, defending the 100-day Moving Average. The altcoin secured support at .618 Fibonacci and 100 DMA ($0.875) over last week before rebounding to test the resistance level located at $1. Meanwhile, XRP recorded sideways movements within the $1 – $0.875 range since touching $1. Besides that, the token trades in a descending wedge pattern, poising for a possible upside break.

XRP/USD Near-Term Price Forecast

Ripple’s token will encounter an initial resistance level at 200 DMA ($0.95), followed by $1, $1.05, and 50-day Moving Average ($1.1). On the other part, the first critical support is at 100-DMA & .618 Fibonacci ($0.875). Other following ones are 2020 highs at $0.8282, downtrend 1.272 Fibonacci Extension ($0.8), and $0.71. Meanwhile, the Daily Relative Strength Index stays below the midline as the market sees bearish momentum dominate.

XRP-BTC – XRP Defending Rising Trend-Line Support

  • Vital support levels – 2,200 BTC, 2,100 BTC, and 2,000 BTC
  • Vital resistance levels – 2,300 BTC, 2,370 BTC, and 2,460 BTC

Ripple has struggled against BTC this month, September. The asset declined from levels beyond 2,600 BTC at the initial sessions this month, hitting its current level at 2,200 BTC. Last week, XRP dropped below 2,200 BTC but secured support around 100 DMA near 2,100 BTC.

A climbing trend-line also reinforced support in this region, and the alt maintained beyond this trend-line by now. However, XRP has to break its current range from 2,300 BTC to 2,100 BTC for a price direction.

XRP/BTC Near-Term Price Forecast

Meanwhile, the initial resistance stands at 2,300 BTC, followed by 50 DMA and bearish .382 Fibonacci (2,370 BTC), bearish .5 Fibonacci (2,460 BTC, and bearish .618 Fibonacci (2,560 BTC). On the other part, the initial resistance is at the climbing trend-line near 2,200 BTC. The following supports locates at 200-DMA and 100 DMA (2,100 BTC), .618 Fibonacci (2,000 BTC), and 2,000 BTC. Also, the RSI remains marginally under the midline, suggesting weak bearish strength.

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