Predicted Ripple Price: XRP/USD Consolidates below $0.85

During the previous 24 hours, the Ripple price prediction has risen by 0.59 percent as the value has crossed the upper limit of the channel.

XRP/USD Market

Key Levels:

Resistance levels: $1.00, $1.05, $1.10

Support levels: $0.65, $0.60, $0.55

XRPUSD – Daily Chart
XRPUSD – Daily Chart

European time: XRP/USD is moving to cross above the top of its channel. Even though Relative Strength Index (14) is below the 60-level, the Ripple price still hasn't hit that level yet. Meanwhile, a break below the moving averages could let the market go down, but if the market stays above the 9-day MA, it could go up.

In this Ripple Price Prediction, we say that Ripple (XRP) is ready for more consolidations.

According to the daily chart, the Ripple price shows signs of weakness in all of its markets. It is currently showing a price drop in the market, and if the bearish action keeps up, the fall could get even bigger if it doesn't stop.

Because XRP/USD is moving sideways on the short-term outlook, traders can expect the trend to keep going up if the price moves stay inside the channel. A break above the channel could help the bulls and push the price to the resistance levels of $1.00, $1.05, and $1.10. If the price drops even a little, the closest supports to keep an eye on are $0.65, $0.60, and critical $0.55.

The Ripple price is below the 9-day and 21-day moving averages against Bitcoin, but the price action hasn't changed. If the selling pressure doesn't stop, the Ripple price change may hit a new low. 14's signal line is now moving below 55; if this happens again, the market may move down even more, even if the signal line doesn't fall any further.

However, XRP/BTC is stuck at 1867 SAT, which is below the moving averages, so it doesn't move much. You might hit the close support at 1600 SAT if you keep going below this point. Then, you might break through to 2100 and below. Meanwhile, if there is a bullish movement that breaks above the upper boundary of the channel, then the nearest resistance levels are at 2100 SAT and above, as well.

** Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of USA GAG nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

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