If Ripple's price doesn't rise above $0.80, it could go as low as $0.69

There is a bearish trend in the price of Ripple (XRP). It was on April 6 that the altcoin broke below the moving averages as it plummeted below $0.75. However, the upward correction was stalled below the 50-day SMA.

In the downtrend zone, the bears have a better chance than the bulls because the altcoin is vulnerable to a drop in prices. During this time, the bulls are trying to break above the 50-day line, or SMA, for short. Buyers must break out above the 50-day line SMA in order for Ripple to come back above the moving averages again. However, if the cryptocurrency turns away from the 50-day line SMA, the bears will break the support level at $0.75, and the cryptocurrency will fall. There's a good chance that XRP will fall back to the low of $0.69. When I write this sentence, the price of XRP/USD is down to $0.78.

Analysis of the ripple indicator

The price of XRP is below both the 21-day line and the 50-day moving average line, which means that the cryptocurrency is going to keep going down. Ripple has dropped to 44 on the Relative Strength Index for the 14th time in a row. If XRP falls even more, it could go even lower. If you look at the daily stochastic, XRP/USD isn't in the 20% range of the stochastic. This means that XRP is in a bullish trend.

ripple chart

Technical indicators:

Major Resistance Levels - $1.95 and $2.0

Major Support Levels - $0.80 and $0.60

The next step for Ripple is to figure out what they want to do next.


XRP daily chart; Tradingview

After the price fell below the moving averages, XRP/USD started to go down again. On March 31, the downtrend has seen a candlestick that is retreating test the 50% Fibonacci retracement level. This means that XRP will fall back to the 2.0 level of the Fibonacci extension, which is about $0.69, at some point. This is based on how the price of XRP has changed. It has dropped and hit a low of $0.77.

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