XRP Price Prediction – March 19
Ripple (XRP) faces the south but further increases as the price may reach $0.40 in case the $0.48 resistance fails.
Resistance levels: $0.56, $0.58, $0.60
Support levels: $0.38, $0.36, $0.34
XRP/USD is seen correcting downwards after touching the resistance at $0.48. However, given the large narrowing in price action, a breakout could very well be explosive for the coin as the price moves above the 9-day and 21-day moving averages. The Ripple’s price is changing hands at $0.47 within the channel.
What to expect from Ripple
The Ripple bulls are expected to perform these important things to keep the uptrends; the first is to hold onto the support at $0.44 as this may help shift the attention back to $0.50 resistance. Secondly, buyers must focus their effort on breaking above the bullish flag pattern in anticipation of a rally massive enough to boost action above $0.55. Thirdly, the on-going retreat from the upper boundary of the channel must be controlled to ensure that losses under $0.40 do not nullify the progress made in the last few weeks.
Meanwhile, the technical indicator RSI (14) is currently moving in the same direction above the 50-level, indicating a sideways movement for the coin. However, if bears drag the current movement and push the price below the moving averages; XRP/USD could find its low at the support levels of $0.38, $0.36, and $0.34 respectively. Nevertheless, if the price breaks above the channel, it may likely hit the resistance levels of $0.56, $0.58, and $0.60.
When compares with Bitcoin, XRP is trading on the downside, although the price is maintaining a sideways movement within the 9-day and 21-day moving averages. If the selling pressure persists, the XRP price variation may likely create a new low in the next negative directions as the RSI (14) moves in the same direction; traders may likely see a negative move in the market as the 9-day MA remains below the 21-day MA.
However, as the coin remains at the downside of the channel, traders can expect close support at the 700 SAT before breaking to 650 SAT and below. If there is a bullish cross above the moving averages, traders can confirm a bull-run for the market, and the potential resistance level could be located at 1000 SAT and above.