XRP/USD Faces Critical Support at $0.85 https://ift.tt/3enF9TY

Ripple Price Prediction – December 24

The Ripple price prediction is seen sliding towards the 9-day and 21-day moving averages with 7.32% loses.

XRP/USD Market

Key Levels:

Resistance levels: $1.10, $1.15, $1.20

Support levels: $0.80, $0.75, $0.70

XRP/USD is slowly declining below the lower boundary of the channel as the coin prepares to drop below $0.85 support. After struggling to stay above $1.05, the Ripple price is now seen following a slow and steady decline but the 9-day moving average is seen crossing above the 21-day moving average to move into a short-term bullish zone.

Ripple Price Prediction: Ripple (XRP) May Touch More Supports

At the time of writing, the Ripple price is currently exchanging hands at $0.92 after touching the daily low of $0.88 and any attempt to make it cross below the 9-day and 21-day moving averages may likely give room for more downsides and the price could spike below the $0.85 support level.  However, traders should wait for a bullish cross back towards the upper boundary of the channel before creating a new bullish trend at the resistance levels of $1.10, $1.15, and $1.20.

In other words, the market may experience a quick buy once the trade reaches the 9-day MA. And if the price fails to rebound, then a bearish breakout is likely to trigger more selling opportunities for traders, which might cause the price to retest $088 and could further drop to $0.80, $0.75, and $0.70 support levels respectively. The technical indicator Relative Strength Index (14) moves below 50-level, suggesting additional bearish signals for the market.

When compares with BTC, the Ripple price is moving sideways as the coin crosses below the 9-day moving average but yet to cross below 21-day moving average. If the selling pressure persists, XRP/BTC may likely create a new low as the technical indicator Relative Strength Index (14) moves below 50-level. In addition, a negative move may come to play in the market as the coin could slide towards the lower boundary of the channel.

XRPBTC – Daily Chart

However, traders may expect close support at 1700 SAT before breaking to the critical support level of 1600 SAT and below. Meanwhile, if a bullish movement crosses above the upper boundary of the channel; we can then confirm a bullish movement for the market which could locate the resistance level at 2100 SAT and above.

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