Cryptocurrency

Resistance

<ul class="wp-block-list">
 <li>XRP faces critical resistance between 0.00001700-0.00002300 BTC, requiring a breakthrough for further gains.</li>  
 <li>CredibleCrypto highlights flipping the red zone to support as a key step for XRP's new ATH and potential $20 value.</li>  
 <li>XRP has rebounded from 0.00000611 BTC support, but it needs to clear major resistance to make a substantial upward move.</li> 
</ul>  
Cryptocurrency analyst CredibleCrypto clarified using the XRP/BTC chart as a barometer due to the USD chart for XRP not being as clear as he had hoped. His study indicates that the XRP/BTC chart's red zone represents strong resistance.  
The analyst thinks there's a chance that XRP's value might increase in relation to Bitcoin, possibly hitting 0.00001700–0.00002300 levels. However, before any significant profits can be realized, the chart shows that XRP must exit this red zone.  
<h2 class="wp-block-heading" id="h-key-resistance-level-at-red-zone">Key Resistance Level at Red Zone</h2>  
With multiple highs and lows over the years, the XRP/BTC combination has displayed volatility. In the past, resistance has been noted between 0.00001700 and 0.00002300 BTC. This red zone has been a crucial area where <a href="https://cryptonewsland.com/xrp-faces-volatile-market-as-it-approaches-critical-resistance-level/" target="_blank" rel="noopener noreferrer nofollow">XRP has faced price rejection</a> during previous attempts to break higher. The latest analysis from CredibleCrypto notes that while the red zone remains a major obstacle, XRP could push higher, reaching the $1.50 to $2 range against USD before meeting significant resistance.  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdxY9woGYeZXe2w6fMqHaHNuDhp5A2UldDPIqhWVtKAuwTtWvlrNCTOhnZ5MQrgkUEyF4vs5md5Slk9tA8iwaws7ApX2GuTKqH-gHbOp8A_1NYcITn7wVSasXHrdrow4MBNjS6uRQ?key=akV6lrzGB8O_GZkRl7YmyCYP" alt="">
</figure>  
Source: <a href="https://x.com/CredibleCrypto/status/1858623599881712075" target="_blank" rel="noopener noreferrer nofollow">CredibleCrypto</a>  
Moreover, the analyst emphasized the importance of flipping the dotted red line above the red zone to support. If this happens, it could signal the start of a major rally toward a new all-time high (ATH). Flipping this resistance zone is a critical step for XRP to push toward double-digit values against BTC. At current <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC prices</a>, a new ATH on the XRP/BTC chart could easily push XRP above $20.  
<h2 class="wp-block-heading" id="h-recovery-and-current-market-outlook">Recovery and Current Market Outlook</h2>  
When XRP/BTC peaked in late 2017, it had <a href="https://cryptonewsland.com/xrp-bulls-gather-momentum-surges-over-18-this-week/" target="_blank" rel="noopener noreferrer nofollow">difficulty sustaining its positive momentum</a>. A negative trend with lower highs and lows was observed in the price between 2018 and 2020. Before retreating, the pair did, however, briefly rise above the 0.00001900 BTC range in 2021. Near 0.00000611 BTC, the price tested its prior support before the end of 2023. Because of its recent recovery from this support, XRP is <a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noopener noreferrer nofollow">currently trading</a> at about 0.00001231 BTC.  
Despite these fluctuations, XRP is in a recovery phase. Nevertheless, resistance must be overcome before XRP can make a more substantial move upwards. CredibleCrypto remains patient and is watching for potential entry points during dips. 
The post <a href="https://cryptonewsland.com/xrp-faces-crucial-resistance-on-btc/" rel="noopener noreferrer nofollow">XRP Faces Crucial Resistance on BTC Chart, Analyst Predicts Potential Breakout</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

XRP Faces Crucial Resistance on BTC Chart, Analyst Predicts Potential Breakout

Table of Contents

Crypto News Land

Other articles published on Nov 19, 2024

Changing early investment opportunities: The role of Premarket access in Defi

Metaplanet Expands Bitcoin Holdings Significantly

Bitcoin Now 8th Largest Asset, Surpassing Silver and Meta

Bitcoin Targets $138K as Historical Patterns Signal Growth

Coinbase CEO Brian Armstrong And Trump Had Private Meeting To Discuss Crypto Policy

From Presale to Potential: Why Qubetics ($TICS) Could Revolutionize the Crypto Space in 2024 Alon...

Join our free newsletter for daily crypto updates!