XRP May Slide Below $0.60 Support

1 Mins read

The Ripple price prediction keeps moving below the moving averages 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: $0.50, $0.45, $0.40

Ripple Price Prediction
XRPUSD – Daily Chart

XRP/USD is ready to create more downtrends as the coin moves to cross below the lower boundary of the channel. The coin may likely revisit the $0.65 support before it could start a new increase. According to the technical indicator, the coin may hit the nearest support at $0.60 to move into a short-term bearish zone.

Ripple Price Prediction: Ripple (XRP) Heads to the South

At the time of writing, the Ripple price is currently exchanging hands at $0.67, and any attempt to make it cross below $0.65 may likely open the doors for more downsides, and the price could spike below the $0.60 support level. However, traders may need to keep their eyes on the $0.55 before creating additional bearish signals at the support levels of $0.50, $0.45, and $0.40.

Nevertheless, traders may experience a quick buy once the trade reaches the support at $0.70, and a bullish movement is likely to trigger buying opportunities for the market, which might cause the price to reach the resistance levels at $0.85, $0.90, and $0.95. Meanwhile, the technical indicator Relative Strength Index (14) is likely to return into the oversold territory as the signal line heads to the south.

Cloudbet bonus

Against Bitcoin, the Ripple (XRP) moves at the downside 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 the oversold region; more negative moves may come to play as the pair moves near the lower boundary of the channel.

XRPBTC – Daily Chart

However, traders may expect close support at 1700 SAT before breaking to 1500 SAT and below. If a bullish movement surfaces, validating a break above the 9-day and 21-day moving averages may confirm a bullish movement for the market, and the nearest resistance level may be located at 2000 SAT and above.

Looking to buy or trade Ripple (XRP) now? Invest at eToro!

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

Read more:

Source link

Related posts

Nomura To Launch Bitcoin, Crypto Subsidiary: Report

1 Mins read
Japanese brokerage Nomura will reportedly launch a subsidiary to offer bitcoin and other cryptocurrency services to institutional clients. The wholly-owned unit will…

Polygon and others extend helping hand to Terra blockchain projects

2 Mins read
Numerous developers have been left in uncertainty in the aftermath of the Terra (LUNA) collapse. These Terra-based projects, which are already under…

Circle Says USDC Reserve Backed Entirely in Cash and Short-Dated US Treasuries – Bitcoin News

4 Mins read
On May 13, Circle’s chief financial officer Jeremy Fox-Geen published a blog post called “How to Be Stable,” following the aftermath of…

Leave a Reply

Your email address will not be published. Required fields are marked *