Ripple Price Prediction – March 2
The Ripple price prediction shows that XRP is down by 3.13% in the last few hours as the current market value goes below $0.75.
XRP/USD Market
Key Levels:
Resistance levels: $0.90, $0.95, $1.00
Support levels: $0.60, $0.55, $0.50
XRP/USD touches the daily high at $0.79 before giving a bearish signal at the time of writing, the coin is trading within the 9-day and 21-day moving averages as the Relative Strength Index (14) crosses below 40-level. However, any bearish move below this level could give the market enough strength to dig dip, but crossing above the upper boundary of the might lead the market to the upside.
Ripple Price Prediction: XRP/USD Ready for More Downside
The Ripple price is showing a sign of weakness across its markets as the coin is down by 3.13%, reflecting a price drop in the market, and the fall might become heavy if the bearish action continues. Therefore, since the Ripple price is moving sideways, traders can expect the trend to keep moving lower if the price action crosses below 9-day MA.
Meanwhile, a break above the upper boundary of the channel could strengthen the bulls and could push the price to the resistance levels of $0.90, $0.95, and $1.00, but a breakdown might lead the market in a bearish scenario where the price may likely reach the supports at $0.60, $0.55, and $0.50.
When compared with Bitcoin, the Ripple price keeps hovering below the 9-day and 21-day moving averages. Therefore, if the bears put more effort into the coin, XRP/BTC may create another low by touching the nearest support at 1700 SAT. Now, the technical indicator Relative Strength Index (14) moves above 40-level; traders may continue to see a negative move within the channel if crosses below this level.
However, the Ripple (XRP) is currently changing at 1755 SAT, and if the coin drops below the current value, the market may experience close support at 1600 SAT before breaking to 1500 SAT and below. Nevertheless, if the Ripple price moves and crosses above the upper boundary of the channel; traders can then confirm a bull-run for the market, and the nearest resistance level is located at 2100 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
