XRP May Slide Below $0.60 Support

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The Ripple price prediction keeps moving below the moving averages as the coin heads toward the lower boundary of the channel.

XRP/USD Market

Key Levels:

Resistance levels: $0.85, $0.90, $0.95

Support levels: $0.50, $0.45, $0.40

XRPUSD – Daily Chart

XRP/USD is ready to create more downtrends as the coin moves to cross below the lower boundary of the channel. The coin may likely revisit the $0.65 support before it could start a new increase. According to the technical indicator, the coin may hit the nearest support at $0.60 to move into a short-term bearish zone.

Ripple Price Prediction: Ripple (XRP) Heads to the South

At the time of writing, the Ripple price is currently exchanging hands at $0.67, and any attempt to make it cross below $0.65 may likely open the doors for more downsides, and the price could spike below the $0.60 support level. However, traders may need to keep their eyes on the $0.55 before creating additional bearish signals at the support levels of $0.50, $0.45, and $0.40.

Nevertheless, traders may experience a quick buy once the trade reaches the support at $0.70, and a bullish movement is likely to trigger buying opportunities for the market, which might cause the price to reach the resistance levels at $0.85, $0.90, and $0.95. Meanwhile, the technical indicator Relative Strength Index (14) is likely to return into the oversold territory as the signal line heads to the south.

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Against Bitcoin, the Ripple (XRP) moves at the downside within the channel. If the selling pressure persists, the Ripple price may bring a new low into the market. Presently, the technical indicator Relative Strength Index (14) is moving towards the oversold region; more negative moves may come to play as the pair moves near the lower boundary of the channel.

XRPBTC – Daily Chart

However, traders may expect close support at 1700 SAT before breaking to 1500 SAT and below. If a bullish movement surfaces, validating a break above the 9-day and 21-day moving averages may confirm a bullish movement for the market, and the nearest resistance level may be located at 2000 SAT and above.

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