XRP Recovery Above $0.40 Halts

The Ripple price prediction has not been able to develop the upside momentum above $0.40 as the coin ranges within the market.

Ripple Prediction Statistics Data:

  • Ripple price now – $0.39
  • Ripple market cap – $18.8 billion
  • Ripple circulating supply – 48.3 billion
  • Ripple total supply – 99.9 billion
  • Ripple Coinmarketcap ranking – #6

XRP/USD Market

Key Levels:

Track live crypto price of 10000+ coins!

Resistance levels: $0.55, $0.60, $0.65

Support levels: $0.25, $0.20, $0.15

XRP/USD touches the resistance level of $0.39 at the opening of the market today, but the coin could not cross above the 9-day and 21-day moving average as it quickly retreated towards $0.38 support. However, the Ripple (XRP) remains at a tight range which limited its bullish movements above the moving averages.

Ripple Price Prediction: What could be the Next Direction of XRP?

According to the daily chart, the Ripple price keeps following the same direction as the coin moves toward the east. However, if the bulls manage to push the Ripple price above the 9-day and 21-day moving averages; it could find the resistance levels at $0.55, $0.60, and $0.65.

Punt Crypto Casino Banner

Meanwhile, if the market follows the bearish movement, it could hit the nearest support at $0.35, and a further drop could pull the coin to the support levels of $0.25, $0.20, and $0.15. Presently, the technical indicator Relative Strength Index (14) confirms the sideways movement as the signal line stays below the 40-level. Therefore, traders should keep monitoring the movement for the next possible direction of the Ripple price.

Related:  Russia To Roll Out Its Own Digital Ruble In 2024 - In Time For Elections

When compared with Bitcoin, the Ripple price is also seen moving sideways, although the price action has remained intact below the 9-day and 21-day moving averages. But, if the selling pressure surface, the Ripple bears may create a new low for the coin in the next coming trading days.

XRPBTC – Daily Chart

At the moment, the technical indicator Relative Strength Index (14) is moving in the same direction; traders may likely see a negative move if the bears increase their movement and any further bearish movement below the lower boundary of the channel could hit the critical support of 1100 SAT and below. On the other hand, if the bulls push the coin above the 9-day and 21-day moving averages, the nearest resistance level may be located at 1600 SAT and above.

eToro: Best Broker for Buying Ripple Stock

eToro exchange
  • FCA, CySEC & ASIC regulated
  • Buy ripple stock or trade CFDs
  • Linked crypto wallet & exchange
  • Low fees
  • PayPal support

eToro exchange

68% of retail investor accounts lose money when trading CFDs with this provider.

Read more:

Download MAXBIT Android App, Your best source of all crypto news!

Google Play

Source link

Share this article: