Ripple Price Prediction – August 30
The Ripple price prediction shows XRP recovering from the intraday low amid the improved market movement.
Resistance levels: $1.30, $1.35, $1.40
Support levels: $0.95, $0.90, $0.85
XRP/USD regains ground after a severe sell-off to $1.11 during the early Asian hours of today. Currently, the Ripple price is changing hands at $1.14, having gained over 0.2% since the start of the day. Despite the recovery, the coin is still trading below the 9-day and 21-day moving averages. Ripple now takes sixth place in the global cryptocurrency market rating, with the current market capitalization of $53.1 billion.
Ripple Price Prediction: Ripple (XRP) May Defend $1.00 Support
The Ripple price is currently consolidating below the 9-day and 21-day moving averages, with the coin recovering from the daily low of $1.11. Meanwhile, a sustainable move above $$1.20 is needed to improve the technical picture and set the bullish ball rolling for the coin. However, the above-mentioned resistance level has been tested as the bulls always backed off.
The daily chart shows that the price recovery is capped below the moving averages at $1.14. Once it is out of the way, the upside is likely to gain traction with the next focus on the above-mentioned congestion area of $1.20 level, followed by the recent Ripple’s recovery high on approach to $1.30, $1.35, and $1.40 resistance levels. On the contrary, the support levels are located at $0.95, $0.90, and $0.85 respectively.
When compares with Bitcoin, the Ripple keeps moving around 2372 SAT below the 9-day and 21-day moving averages. After the coin touches the daily high at 2378 SAT today, the coin is retreating back but it’s likely for the coin to continue ranging as the 9-day MA is crossing below the 21-day MA.
Therefore, if the sellers continue with this, the Ripple price against BTC may drop to 2000 SAT and below. At present, the technical analysis Relative Strength Index (14) moves above 50-level as the market consolidates within the channel where the coin can easily reach the resistance level of $2700 and above if the bulls step back into the market.
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