23 Sep 2022 · 2 min read

XRP Price Storms 20%, Leads Recovery in Bitcoin and Ethereum

  • Bitcoin price started an upside correction above the $19,000 level.
  • Ethereum gained over 5%, XRP surged over 20% and surpassed $0.48.
  • CHZ, LEO, and COMP are up over 12%.

Bitcoin price managed to escape a bearish breakdown below the $18,000 support. BTC is currently (03:10 UTC) trading above $19,000. A clear move above the $19,550 and $19,600 resistance levels might start a decent increase.

Similarly, most major altcoins are moving higher. ETH gained over 5% and surpassed the $1,320 level. XRP outperformed with a strong move above the $0.45 resistance. ADA is moving higher towards the $0.465 level.

Bitcoin price

After forming a base above the $18,500 level, bitcoin price started an upside correction. BTC was able to recover above the $18,800 resistance zone and the 50-hour simple moving average. The price even broke the $19,200 level and tested the $19,500 resistance. The next major resistance is near $19,530, above which the price might rise to $20,000. Any more gains might send the price to $20,450.

On the downside, an initial support is near the $19,000 level and the 50-hour simple moving average. The next major support is near the $18,800 zone, below which the price could move to $18,250.

Ethereum price

Ethereum price also started a recovery wave above the $1,280 resistance zone. There was a clear move above the $1,300 level and the 50-hour simple moving average. ETH is now following a bullish trend line with support at $1,300 on the hourly chart. On the upside, the price is facing resistance near the $1,340 level. The next major resistance is now forming near the $1,355 and $1,360 levels.

On the downside, an initial support is near the $1,300 level. The next major support is $1,280, below which price could test $1,220.

ADA, BNB, SOL, DOGE, and XRP price

Cardano (ADA) is recovering and trading above the $0.45 level. If the bulls remain in action, there could be a move above the $0.465 resistance. The next major resistance sits at $0.48.

BNB is gaining pace and it cleared the $272 resistance. An immediate resistance is near the $275 level, above which the price could accelerate higher towards the $288 level.

Solana (SOL) is rising and attempting a move above the $32.50 resistance. If the bulls succeed, the price could gain further. In the stated case, the next major resistance sits at $35.

DOGE is attempting to clear the $0.060 resistance zone. A close above the $0.0600 level might start a steady increase. The next major resistance is near $0.0620.

XRP price rallied over 20% and broke many hurdles near the $0.45 level. It even surpassed $0.48. It seems like the bulls are now aiming a clear move above the $0.50 level.

Other altcoins market today

A few altcoins are gaining momentum, including CHZ, LEO, COMP, THETA, TON, DCR, XLM, AR, ALGO, SAND, ATOM, and KAVA. Out of these, CHZ gained over 15% and surpassed the $0.27 level.

Overall, bitcoin price is attempting a recovery wave above the $19,200 level. BTC could gain pace if it clears the $19,550 and $19,600 resistance levels.

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