Ripple Price Prediction – XRP/USD May Rally Above $0.70 Level
https://ift.tt/3H51rGV
Ripple Price Prediction – January 26
For the past few days, Ripple (XRP) has been unable to develop the upside momentum above $0.70 as the coin remains at the downside.
XRP/USD Market
Key Levels:
Resistance levels: $0.80, $0.85, $0.90
Support levels: $0.45, $0.40, $0.35
During the European session, XRP/USD moves toward the 9-day moving average but failed to hold the ground and now hovering around $0.63. Nevertheless, the Ripple (XRP) has been following the downtrend for the past few days, XRP/USD may need to cross above the 9-day and 21-day moving averages, but the sideways movement could limit its bullish movements.
Ripple Price Prediction: Would XRP Touch $0.70 Level?
According to the daily chart, the Ripple price is seen heading towards the 9-day and 21-day MAs, and should the bulls manage to push the market price above this barrier; the coin may likely find the potential resistance levels at $0.80, $0.85, and $0.90. Therefore, if the Ripple price reverse to the negative side, it may experience a bearish movement.
However, it is likely for the Ripple price to retest the nearest support at $0.60 and a further drop could pull the market to $0.45, $0.40, and $0.35 supports. Meanwhile, the technical indicator Relative Strength Index (14) is slowly moving out of the oversold region and heads toward the 40-level, which may introduce more bullish signals into the market.
When compares with Bitcoin, the Ripple price is trading below the 9-day and 21-day moving average2. However, if the selling pressure increases, the bears may likely keep the Ripple price at the downside. However, the technical indicator Relative Strength Index (14) is seen moving towards the oversold region as traders may likely see more negative moves in the market soon.
Moreover, the market can as well expect close support at the 1600 SAT by sliding towards the lower boundary of the channel but crossing below it may hit the critical support of 1550 SAT and below. On the other hand, if a bullish move occurs and validates a break above the 9-day and 21-day moving averages; traders may confirm a bullish movement for the coin as it may locate the potential resistance level at 1800 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
Read more:
Cryptocurrency
