Ripple Price Prediction – April 9
The Ripple price prediction shows that XRP could renew the bullish trend after testing the support level of $0.75 today.
XRP/USD Market
Key Levels:
Resistance levels: $0.85, $0.90, $0.95
Support levels: $0.65, $0.60, $0.55
XRP/USD regains ground after opening today’s trade at $0.75 during the European session. The Ripple price is currently changing hands at $0.76 with a slight gain of 0.70% 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 $0.80 as the initial move above the 9-day and 21-day moving averages could boost the price further up. Looking at it from above, any further bullish movements may come into play if the Ripple price moves to the upside, and the nearest resistance level could be found at $0.80.
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 moving above the 40-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 $0.65, $0.60, and $0.55 respectively.
By comparing with Bitcoin, the Ripple is seen moving sideways around the 9-day and moving average. After the coin touches the daily high at 1800 SAT today, the coin later retreated to where it is currently trading at 1793 SAT. Meanwhile, the price keeps moving sideways as the buyers may put pressure on the market.
Moreover, should the sellers return to the market, the Ripple price may drop below the lower boundary of the channel to hit the support at 1550 SAT and below. Now, the technical indicator Relative Strength Index (14) remains above the 40-level as the market could face an upward movement in the next positive direction and the resistance level could be located at $2000 and above.
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