The Ripple price prediction shows that XRP could renew the bullish trend after touching the resistance level of $0.66 today.
XRP/USD Market
Key Levels:
Resistance levels: $0.85, $0.90, $0.95
Support levels: $0.45, $0.40, $0.35
XRP/USD regains ground after touching the daily high at $0.66 during the European session today. The Ripple price is currently changing hands at $0.64 with a slight gain of 0.55% since the start of the day. Despite the recovery, the coin is still hovering below the 9-day and 21-day moving averages.
Ripple Price Prediction: What Could Be the Next Direction for Ripple Price?
According to the daily chart, the Ripple price is moving towards the resistance level of $0.70 as the initial move above the 9-day and 21-day moving averages could boost the price further up. The Ripple (XRP) hits the daily high at $0.66 before retreating to where it is currently trading. Looking at it from above, more bullish movements may come into play if the Ripple price crosses above the moving averages, and the nearest resistance level could be found at $0.70.
However, the traders can see that the daily movement remains in the hands of the bulls as the technical indicator Relative Strength Index (14) is seen moving above the 30-level, building on the consistent recovery from the downside. Meanwhile, a break into the positive side may most likely push the coin towards the potential resistance levels of $0.85, $0.90, and $0.95, while a drop below the lower boundary of the channel may lead to the supports of $0.45, $0.40, and $0.35 respectively.
By comparing with Bitcoin, the Ripple is seen moving down below the 9-day and 21-day moving averages. After the coin touches the daily high at 1713 SAT today, the coin later retreated to where it is currently trading. Meanwhile, the price keeps moving sideways as the sellers may put pressure on the market.
Moreover, should the sellers continue to dominate the market, the Ripple price may drop to the support of 1400 SAT and below. Now, the technical indicator Relative Strength Index (14) moves to cross into the oversold region but any rebound towards the north may hit the resistance level at $1900 and above.
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