The Ripple price prediction shows that XRP is down by 0.61% after trading at the $0.72 level during the European session today.
XRP/USD Market
Key Levels:
Resistance levels: $0.90, $0.95, $1.00
Support levels: $0.55, $0.50, $0.40
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XRP/USD touches the resistance level of $0.72 before giving a bearish signal. The bulls could not push the price above the 9-day and 21-day moving averages as the price is down to touch the support at $0.70. However, the technical indicator Relative Strength Index (14) moves to cross below the 40-level, and this could allow the market to dig dip towards the lower boundary of the channel.
Ripple Price Prediction: Ripple Price May Head to the South
The Ripple price continues to move sideways as the red line of the 9-day prepares to cross above the green line of the 21-day moving average. Looking at the daily chart, the Ripple price is likely to experience a price drop and the fall might become heavy if the bearish movement plays out.
Therefore, since XRP/USD is moving sideways on the short-term outlook, traders can expect the trend to move higher if the price crosses above the 9-day and 21-day moving averages. Moreover, a break to the upside could strengthen bulls and take the Ripple price to the resistance levels of $0.90, $0.95, and $1.00. On the other hand, any bearish movement might lead the market to a bearish scenario and may locate the critical supports at $0.55, $0.50, and critically $0.45.
Compared with Bitcoin, XRP stays below the 9-day and 21-day moving averages, the price action may head to the south if the selling pressure continues. Now, the signal line of the Relative Strength Index (14) is moving to cross below the 40-level.
At the time of writing, XRP/BTC is trading at 1788 SAT, but any bearish movement below the lower boundary of the channel may hit the critical support at 1550 SAT and below. Meanwhile, should in case a bullish movement occurs and validates a break above the moving averages; traders may confirm a bullish movement for the market, and the nearest resistance level could be located at 2100 SAT and above.
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