Ripple (XRP) May Visit $0.70 Support

Ripple (XRP) May Visit $0.70 Support


The Ripple price prediction is trading around the support level of $0.71 as the coin heads toward the lower boundary of the channel.

XRP/USD Market

Key Levels:

Resistance levels: $0.85, $0.90, $0.95

Support levels: $0.60, $0.55, $0.50

Ripple Price Prediction
XRPUSD – Daily Chart

Looking at the daily chart, XRP/USD is likely to head to the downside. Though, the Ripple price may be stagnant, trending in a tight trade range as it could move below the key supports. The coin may likely revisit the $0.70 support before it could start a new increase, but after struggling to face the 9-day moving average, Ripple (XRP) begins a slow and steady decline towards the south. According to the technical indicator, the coin may hit the nearest support at $0.65 to move into a short-term bearish zone.

Ripple Price Prediction: Ripple (XRP) May Stay at the Downside

At the time of writing, the Ripple price is currently exchanging hands at $0.71, and any attempt to make it cross below this level may likely open the doors for more downsides, and the price could spike below the $0.68 support level. However, traders may need to keep their eyes on the $0.80 before creating a new bullish trend at the resistance levels of $0.85, $0.90, and $0.95.

Moreover, it is likely for traders to experience a quick buy once the trade reaches the support at $0.70, but, if the price fails to rebound, a bearish breakdown would trigger more selling opportunities for the market, which might cause the price to locate the critical supports at $0.60, $0.55, and $0.50. Meanwhile, the technical indicator Relative Strength Index (14) moves below the 40-level, and Ripple (XRP) may continue to fall more if the bears increase the selling pressure.

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When compared with Bitcoin, the Ripple (XRP) is moving in the same direction within the channel. If the selling pressure persists, the Ripple price may bring a new low into the market. Presently, the technical indicator Relative Strength Index (14) is moving towards 50-level; more positive moves may come to play as the coin moves to cross above the 9-day and 21-day moving averages.

XRPBTC – Daily Chart

However, traders may expect close support below the moving averages at the 1600 SAT before breaking to 1500 SAT and below. If a bullish movement surfaces, validating a break above the 21-day moving average may confirm a bullish movement, and the nearest resistance level may be located at 2100 SAT and above.

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