Ripple Price Prediction – March 6
The Ripple price prediction shows that XRP is down by 1.86% after touching the daily high at $0.75 during the European session today.
Resistance levels: $0.90, $0.95, $1.00
Support levels: $0.60, $0.55, $0.50
XRP/USD touches the resistance level of $0.75 before giving a bearish signal. The bulls could not push the price above the 9-day and 21-day moving averages as the price is down to touch the support at $0.72. However, the technical indicator Relative Strength Index (14) moves below 50-level and this could allow the market to dig dip towards the lower boundary of the channel.
Ripple Price Prediction: Where is Ripple Price Going Next?
The Ripple price is riddling with indecision as the red-line of the 9-day prepares to cross above the green-line of the 21-day moving average. According to the technical indicator, XRP/USD is likely to reflect a price drop within the market and the fall might become heavy if the bearish continues.
Therefore, since XRP/USD is moving sideways on the short-term outlook, traders can expect the trend to move higher if the price crosses above the upper boundary of the channel. A break to the upside could strengthen bulls and push the price to the resistance levels of $0.90, $0.95, and $1.00, but a further bearish movement might lead the market in a bearish scenario, and the closest supports to watch are $0.60, $0.55, and critically $0.50.
Compared with Bitcoin, XRP stays above the 9-day and 21-day moving averages, the price action has remained intact within the channel, but if the selling pressure continues, the Ripple price may slide to the downside. Now, the signal line of the Relative Strength Index (14) is moving below 60-level; the market may experience an additional negative move if the signal line slides below 50-level.
In the meantime, XRP/BTC hovers at 1902 SAT above the 9-day moving average, but any further drop below the 9-day moving average may hit the close support at 1800 SAT before breaking to 1600 SAT and below. Meanwhile, should in case a bullish movement occurs and validates a break above the upper boundary of the channel; traders may confirm a bullish movement for the market, and the nearest resistance level could be located at 2200 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