XRP/USD Keeps Ranging Above $0.60 Level

0

-Advertisement-

Ripple Price Prediction – July 12

The Ripple price couldn’t break above the upper boundary of the channel as the price got rejected from 0.66 resistance level.

XRP/USD Market

Key Levels:

Resistance levels: $0.80, $0.85, $0.90

Support levels: $0.50, $0.45, $0.40

XRPUSD – Daily Chart

XRP/USD is seen following a sideways movement as the 9-day and 21-day moving averages act as the support for the market, though the price has not been able to climb above it several times. However, should in case the bulls want to see a shift in momentum, they will need to hold the price and cross above the 9-day and 21-day MAs.

Ripple Price Prediction: Ripple (XRP) Could Retest $0.66

The Ripple price is currently hovering at $0.64 and any attempt below this level could open the door to drop further and the price could fall towards the lower boundary of the channel. However, the market may welcome a quick-buy if the market price crosses above the moving averages.  The traders need to keep an eye on the resistance level of $0.70 before moving upwards while the potential resistance levels lie at $0.80, $0.85, and $0.90.

On the other hand, if the price fails to rebound, a bearish breakout is likely to trigger more selling opportunities for traders, which might cause the price to test $0.50 and could further drop to $0.45 and $0.40 support levels respectively. The technical indicator Relative Strength Index (14) is moving sideways; XRP/USD may follow a bearish trend if the price remains below the moving averages.

When compares with Bitcoin, the Ripple market is ranging as the price trades below the 9-day and 21-day moving averages. However, the XRP/BTC has not been able to break above the moving averages. The market opens today with a bullish candle but any further bullish movement may touch the resistance level of 7000 SAT.

XRPBTC – Daily Chart

Looking at the daily chart, the bears are likely to control the market by keeping the price below the 9-day and 21-day moving averages. The nearest support level lies at 1500 SAT and below. Meanwhile, the Relative Strength Indicator (14) is likely to cross above 45-level if the bulls put more effort.

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

75% of retail investor accounts lose money when trading CFDs with this provider

Credit: Source link

-Advertisement-

Leave A Reply

Your email address will not be published.