Ripple’s Price Targets Key Support Levels Against USDT and BTC
Ripple’s price has been on a downward trend in recent days, with the market focusing on key support levels against both USDT and BTC.
Technical Analysis
By Edris
The USDT Paired Chart
Against USDT, Ripple’s price has been declining since it was rejected from the $0.55 resistance area. It has also broken below the 50-day and 200-day moving averages, which are located around $0.5 and $0.54, respectively.
The RSI indicator is showing values below 50%, indicating bearish momentum. As a result, there is a likelihood of a drop towards the $0.43 support level in the short term.
The BTC Paired Chart
The situation is worse when looking at Ripple’s price against BTC. The 50-day and 200-day moving averages are converging around the 1900 SAT level, potentially leading to a bearish crossover with the 50-day dropping below the 200-day. Additionally, the 1800 SAT support level seems to be breaking downwards, which could result in a rapid decline towards the 1600 SAT area.
Similar to the USDT paired chart, the RSI suggests that momentum favors sellers, making a bearish continuation more likely than a rebound.
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