XRP/USD Faces a Crucial Support at $1.00

XRP/USD Faces a Crucial Support at $1.00


Ripple Price Prediction – September 13

Looking at the daily chart, the Ripple price is seen below the moving averages with 4.09% as the value touches $1.01 support.

XRP/USD Market

Key Levels:

Resistance levels: $1.28, $1.38, $1.48

Support levels: $0.90, $0.80, $0.70

Ripple Price Prediction
XRPUSD – Daily Chart

XRP/USD is slowly declining below the lower boundary of the channel as the coin might drop below $1.00 support. After struggling to stay above $1.05, the Ripple price begins a slow and steady decline as the 9-day moving average is seen crossing below the 21-day moving average to move into a short-term bearish zone.

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

At the time of writing, the Ripple price is currently exchanging hands at $1.06 and any attempt to make it cross below the lower boundary of the channel may likely give room for more downsides and the price could spike below the $1.00 support level.  However, traders should wait for a bullish cross above the 9-day and 21-day moving averages before creating a new bullish trend at the resistance levels of $1.28, $1.38, and $1.48.

In other words, the market may experience a quick buy once the trade reaches the support at $1.10. 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 $0.93 and could further drop to $0.90, $0.80, and $0.70 support levels respectively. The technical indicator Relative Strength Index (14) is moving below 50-level, suggesting more bearish signals for the market.

When compares with BTC, the Ripple price is moving sideways as the coin stays below the 9-day and 21-day moving averages. 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 pair could slide towards the lower boundary of the channel.

XRPBTC – Daily Chart

However, traders may expect close support at 2300 SAT before breaking to the critical support level of 2100 SAT and below. Meanwhile, if a bullish movement crosses above the moving averages; we can then confirm a bullish movement for the market which could locate the resistance level at 2700 SAT and above.

Looking to buy or trade Ripple (XRP) now? Invest at eToro!

67% of retail investor accounts lose money when trading CFDs with this provider

Read more:

How to buy Ripple
How to buy cryptocurrency


Source link

Leave a Reply