Ripple finally picked up the pace to hit the 0.0000580 levels, but it could not keep it up for long and experienced a correction. XRP hit the 0.0000400 support level and there are chances that it will redeem its previous position or even go farther than that, but would it overcome Bitcoin?
A few weeks before Ripple was standing above the 0.0000420 resistance levels. This behaviour triggered an upwards rally for XRP.
Due to this bullish trend, XRP hit above the resistance levels of 0.0000480 and 0.0000500. It stably settled near the 0.0000580 levels.
Analyzing the charts suggests that XRP hit the 0.0000678BTC level high before it experienced a major correction.
The downwards correction caused XRP to start trading under the 0.0000550BTC level. It moved up from low price mark of a 0.0000403BTC to hitting the high price mark of 0.0000578BTC. These both price marks also offered strong support levels.
As of now, the trading price is stably settling near the support level of 0.0000500 BTC. On the four hour charts, the XRP/BTC pair is standing at a dangerous resistance level of 0.0000515 BTC.
If XRP manages to break through this dangerous resistance level, it is in for a treat in the near future. XRP is most likely to experience major gains if the 0.0000515BTC and 0.0000520BTC levels are breached.
After the aforementioned resistance levels, the following resistance level is near 0.0000540BTC. If XRP goes above this then the next will be 0.0000580BTC. If it trades even further than this then the next resistance level will be of more than 0.0000600BTC.
On the other hand, the support level of 0.0000500BTC and the hundred simple moving average levels are very important. If both these marks are breached then XRP will experience major losses in the near future. The support levels after this level lie near 0.0000480BTC and 0.0000450BTC.