XRP/USD Retraces Below $1.38 Resistance

XRP/USD Retraces Below $1.38 Resistance


Ripple Price Prediction – November 10

After touching the high of $1.38, the Ripple price faces the south as further downside may reach the critical support level of $0.95.

XRP/USD Market

Key Levels:

Resistance levels: $1.50, $1.55, $1.60

Support levels: $1.00, $0.95, $0.90

Ripple Price Prediction
XRPUSD – Daily Chart

XRP/USD is seen sliding below the 9-day and 21-day moving averages as the coin might revisit the $0.90 support level before it could start a new increase. After touching the monthly high at $1.38, the Ripple suddenly slumps to face the critical support at $1.10. As the coin faces the bearish movement, it may target the key support level at $1.05 as the price moves into a short term bearish zone.

Ripple Price Prediction: Would Ripple (XRP) Recover the Losses?

At the time of writing, the Ripple price is currently hovering at $1.19 and any attempt to cross below the 21-day moving average may likely open additional doors for more downsides and the price could spike towards the lower boundary of the channel. Furthermore, traders may experience a quick buy if the market price reaches the support at $1.05 but on the contrary, traders should keep eye on the resistance levels of $1.50, $1.55, and $1.60.

However, if the price fails to rebound, then a bearish breakout is likely to trigger more downtrend for the coin, which might cause the price to retest $1.00 and could further drop to $0.95 and $0.90 support levels respectively. More so, the technical indicator Relative Strength Index (14) is crossing below 60-level and if the market continue to follow the downward movement, XRP/USD may fall more. Therefore, the Ripple (XRP) may not be able to recover the losses.

Against Bitcoin, the pair is consolidating within the channel and moving within the 9-day and 21-day moving averages. Meanwhile, should in case a rebound comes to play, the coin may face the upward trend and the bullish continuation may take it to the resistance levels of 2200 SAT and 2400 SAT respectively.

XRPBTC – Daily Chart

Looking at the daily chart, if the bulls failed to hold the selling pressure, then the pair may likely fall below the moving averages and the nearest support levels for the coin could be found at 1600 SAT and 1400 SAT. However, the technical indicator Relative Strength Index (14) is seen moving below 50-level, suggesting more bearish signals.

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

68% of retail investor accounts lose money when trading CFDs with this provider

Read more:


Source link

Leave a Reply