XRP/USD Finally Breaks Below $1.00 Support

0

Ripple Price Prediction – November 26

The Ripple price prediction shows that XRP is down by 8.37% in the last few hours as the current market value goes below $0.86.

XRP/USD Market

Key Levels:

Resistance levels: $1.20, $1.25, $1.30

Support levels: $0.80, $0.75, $0.70

XRPUSD – Daily Chart

XRP/USD touches the daily low of $0.87 according to the daily chart, the coin is trading below the 9-day and 21-day moving averages as the technical indicator Relative Strength Index (14) nosedives towards the oversold region. Meanwhile, a break below this Barrier could give the market enough strength to dig dip, but crossing above the 9-day and 21-day moving averages might lead the market to a bullish movement.

Ripple Price Prediction: Price May Remain at the Downside

At the moment, the Ripple price is demonstrating a sign of weakness across its markets. Looking at the daily chart, XRP/USD market is down by 8.37%, reflecting a price drop in the market and the fall might become heavy if the bearish action continues. Therefore, since the Ripple price is moving bearishly, traders can expect the trend to keep advancing lower if the price actions still remain below 9-day and 21-day moving averages.

However, any bullish movement above the moving averages could strengthen the current market value and may likely push the price to the resistance levels of $1.20, $1.25, and $1.30, or a breakdown might lead the market in a bearish scenario if the price continues to fade, the price may likely reach the supports at $0.80, $0.75, and $0.70.

When compares with Bitcoin, the Ripple price is hovering below the 9-day and 21-day moving averages. However, if the selling pressure continues, the Ripple price may create another low. At the moment, the technical indicator Relative Strength Index (14) is likely to cross below 40-level; traders may continue to see a negative move in the market as much as the coin continues to trade below the moving averages.

XRPBTC – Daily Chart

However, the Ripple (XRP) is currently hovering at 1764 SAT and if the coin moves toward the lower boundary of the channel, traders may expect close support at 1600 SAT before breaking to 1500 SAT and below. Meanwhile, should in case a bullish movement occurs and break above the upper boundary of the channel; we can then confirm a bullish movement for the coin and the nearest resistance level lies at 2000 SAT and above.

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:

Credit: Source link

Leave A Reply

Your email address will not be published.