Ripple’s Price Analysis: USDT Paired Chart
On the USDT paired chart, Ripple’s price has been moving between the $0.60 and $0.72 levels without a clear breakout. Currently, the price is testing the $0.60 level again with some momentum. Even if it breaks below this level, there is support from the 200-day moving average at around $0.57. However, if XRP drops below this moving average, it could lead to a significant decline towards the $0.43 level. The Relative Strength Index (RSI) is also indicating bearish momentum, increasing the likelihood of a further downtrend.
BTC Paired Chart
When looking at the Bitcoin pair, Ripple faces challenges. The price has been forming lower highs and lows over the past few months, showing no signs of a bullish shift in market structure. Additionally, there is a large falling wedge pattern developing during this period, and the market seems to be heading towards testing its lower boundary after a rejection from the 1600 SAT resistance level. With the RSI confirming bearish momentum, it is expected that the decline will continue in the coming weeks.
Hot Take: Ripple’s Price Prepares for Next Move
Ripple’s price has been range-bound against USDT and in a bearish trend against BTC. However, recent developments suggest that Ripple is preparing for its next significant move. On the USDT paired chart, the price is testing a crucial support level at $0.60, with potential support from the 200-day moving average nearby. Meanwhile, on the BTC paired chart, Ripple faces downward pressure as it forms lower highs and lows within a falling wedge pattern. The bearish momentum indicated by the RSI further supports a continued decline.
By
By
By
By
By