Ripple’s price has shown a bullish trend in recent weeks, gradually increasing towards a key resistance level. However, there is a possibility of another crash if the price fails to break above this area.
Technical Analysis
By Edris
The USDT Paired Chart
Against USD, XRP has been steadily climbing after a significant crash in August. It is currently trading within a narrow range between the 50-day and 200-day moving averages, around the $0.5 mark. If there is a bullish breakout, the market could reach the crucial $0.55 resistance zone, which will likely determine the mid-term market trend.
A successful break above this area would pave the way for the price to rise towards the $0.9 level once again. On the other hand, a rejection could have severe consequences, potentially causing the market to drop to the $0.4 level or even lower.
Source: TradingView
The BTC Paired Chart
Against BTC, Ripple is painting a different picture. The price of XRP has been moving sideways in recent weeks, trading below both the 50-day and 200-day moving averages, which are located around the 1900 SAT mark.
The RSI indicator has also fallen below the 50% threshold, indicating that the momentum currently favors the sellers. The 1800 SAT support level is the only barrier preventing another crash toward the 1600 SAT zone. Investors should hope that this level holds for XRP to rebound higher.
Source: TradingView
SPECIAL OFFER (Sponsored)Binance Free $100 (Exclusive): Use this linkto register and receive $100 free and 10% off fees on Binance Futures first month( terms).
PrimeXBT Special Offer: Use this linkto register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency chartsby TradingView.
Tags: Ripple (XRP) Price
