Crypto

Ripple Price Prediction: XRP/USD Ready to Break Above $0.90


Ripple Price Prediction – December 8

The Ripple price prediction is slightly bullish as the market continues to respect the $0.75 support and could push the coin upward.

XRP/USD Market

Key Levels:

Resistance levels: $1.00, $1.05, $1.10

Support levels: $0.65, $0.60, $0.55

XRPUSD – Daily Chart

XRP/USD has been trading bearishly since a few weeks ago, gaining around 6.70% during the negotiation today. Looking at the daily chart, the Ripple (XRP) has been rising after touching the daily low at $0.77. At the time of writing, bulls are making an attempt to come back into the market with a cross above the 9-day and 21-day moving averages, which may head towards the resistance level of $0.95.

Ripple Price Prediction: Ripple Price May Struggle Above $1.25?

The Ripple price remains the seventh-largest cryptocurrency with the cryptocurrency heading towards the 9-day moving average. The Ripple price has begun a slight increase since a couple of days as it is currently trading around $0.87. In the meantime, XRP/USD may continue to follow a sideways movement before deciding on the next direction of the market.

Moreover, should in case the price breaks above the 9-day and 21-day moving averages, the resistance levels of $1.00, $1.05, and $1.10 could be reached. Meanwhile, for a break below the lower boundary of the channel, the Ripple price may hit the supports at $0.65 and $0.60 and if the price falls below the previous levels, another support could be located at $0.55 while the Relative Strength Index (14) begins a journey to cross above 40-level.

When compares with Bitcoin, the Ripple price is currently changing hands at 1713 SAT and it’s hovering above the 9-day moving average. Therefore, if the 21-day MA serves as the nearest resistance, the Ripple price may likely face additional resistance above the upper boundary of the channel. By crossing above this barrier, XRP/BTC may hit the resistance level of 1900 SAT and above.

XRPBTC – Daily Chart

However, if the bulls fail to keep the price above the moving averages, the market may continue its downtrend and the pair could probably record further declines towards the lower boundary of the channel. However, a further bearish move could bring the coin to the support level of 1500 SAT and below while the signal line of the Relative Strength Index (14) crosses above 40-level.

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

Related Articles

Back to top button