- Ripple trades down below the major support level at $0.20 and trades around $0.19, but moves above the bottom price marked around $0.17—fresh 52 week low
- The current momentum and trend are anticipated to have a further downtrend
XRP price trend when looked upon cumulatively confirms the bearishness that prevails irrespective of a positive intraday move. However, if we consider the intraday movement of XRP/USD, we cannot really ignore the major supports as volatility inherits.
Ripple Price Prediction
Analyzing the above-given chart of XRP to USD on Bitfinex, we see that the coin has been hit from the trading price of around $0.215. This happens to be our major resistance if the coin consolidates upwards in any instance possible. The steep fall from the said price is rightly supported by $0.199, followed by $0.194, $0.186, and $0.179. As per the current movement, Ripple cryptocurrency lacks momentum, and a further dip is anticipated. Having said that, we believe that the said supports will be rightly maintained.
If the majority number of buyers fix the price above $0.194, then the growth is likely to continue in order to trade above $0.20, which can result into S/R flip. However, if the sellers turn out to be strong, then the dip may consolidate around the fresh 52-week low price given below $0.18.
This is rightly confirmed by the diminishing trend line that is forming, and major resistance is around $0.19 at present, which is followed by $0.20. If the XRP coin necessarily moves as per the given trend line, there is a possibility of a falling wedge, which may temporarily take the Ripple price up. Then, if the buyers are strong, the game can reverse the tables.
The daily short-term moving average is giving support to the current trading price. We also see a slight intersection of the 9-day and 200-day daily MA, which exhibits that the XRP coin can approach steady support if it shows a good intraday growth, henceforth.
The MACD of the Ripple also confirms the same. The MACD line rises above zero and cuts the signal line from below, just when the XRP price rose above $0.17 and $0.18 price area.
The RSI is at 64.65, which draws a positive figure as the coin rises towards the ultimate resistance from the ultimate support—marked around the fresh 52-week low.