However, in the recent week, Stellar Lumens (XLM) have been surging upwards, while XRP price is also starting to look stronger on the charts. Can we expect substantial altcoin movements in the coming weeks? Let’s take a look at the charts.
Crypto market daily performance. Source: Coin360
USDT pair holds crucial level for XRP
XRP USDT 12-hour chart. Source: TradingView
The 12-hour chart is showing a promising support/resistance flip of the $0.1775 area. The crash on Black Thursday was also devastating for holders of XRP as the price dropped below the $0.12 level for a few hours.
However, since then, the price of XRP has been rallying upwards through substantial support/resistance flips. The recent movements are showing that the crucial area of $0.1775 is holding as support and setting up for more upside for XRP.
The main resistance level to break for the XRP price would be the red zone between $0.2025-0.2125. A break of this level would likely push the price towards $0.2475 and possibly higher at $0.2775.
XRP holds final support level for any bullish perspective
XRP USD 2-day chart. Source: TradingView
The 2-day chart is showing a significant support level of around $0.145, which had to hold to sustain the positive momentum. However, the chart is also showing that the trend is still substantially downwards based given the lower lows and lower highs.
However, by holding the support level at $0.145, a possible test of the range high can occur, which is found at the $0.328-0.33 area.
Remarkably, in the past cycle of 2015-2017, a similar move occurred where XRP price made a full retrace to the support levels before a massive surge. This support area held, after which accumulation started, resulting in a massive breakout to $3 in January 2018.
The current price action is also…