https://ift.tt/3pHo91g Consolidates as Price Drops Below $0.90

Ripple Price Prediction – December 31

The Ripple price prediction shows that XRP is down by 0.64% in the last 24 hours as the value drops below $0.90 level.

XRP/USD Market

Key Levels:

Resistance levels: $1.00, $1.05, $1.10

Support levels: $0.70, $0.65, $0.60

Earlier today, XRP/USD touches the daily high of $0.86 before giving a bearish signal at the time of writing, the coin is also floating below the 9-day and 21-day moving averages as the technical indicator Relative Strength Index (14) could cross below 40-level. Meanwhile, a continuous movement below the moving averages could give the market enough strength to dig dip, but crossing above this barrier may lead the market to a bullish scenario.

Ripple Price Prediction: Ripple (XRP) May Remain below $1.00 Level

At the moment, the Ripple price begins to demonstrate a sign of weakness across its markets. Looking at the daily chart, XRP/USD market is down by 0.64%, reflecting a price drop in the market and the fall might become heavy if the bearish action continues. Meanwhile, the Ripple (XRP) has been consolidating within the channel since November.

Therefore, if XRP/USD moves bullishly on short-term outlook, traders may expect the trend to keep advancing higher, that is, if the price actions still remain inside the channel. A breakout above the 9-day and 21-day moving averages could strengthen bulls and push the market price to the resistance levels of $1.00, $1.05, and $1.10, or a bearish movement might lead the market in a bearish scenario towards the support levels of $0.70, $0.65, and critically $0.60.

Against BTC, XRP has remained intact within the channel. Therefore, if the selling pressure persists, the Ripple price may likely create a new monthly low. At the moment, the technical indicator Relative Strength Index (14) is seen moving in the same direction around 48-level; traders could see a negative move if XRP crosses below 40-level.

XRPBTC – Daily Chart

As the daily chart reveals, XRP/BTC is currently moving at 1769 SAT. Traders may expect close support at the 1700 SAT before breaking to 1650 SAT and critically 1550 SAT levels. On the other hand, should in case a bullish movement occurs and validates a break above the moving averages; a bull-run can be confirmed for the market and the potential resistance level could be found at 1900 SAT and above.

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