Technical Reckoning: Ripple’s Price Outlook
By Edris
The USDT Paired Chart
Ripple’s price against USDT has shown bullish signs recently, with consecutive green daily candles. However, it faced rejection at the 50-day moving average of around $0.5. This resistance level is currently preventing further upward movement.
If the market fails to break above this level, the price is likely to drop to $0.43. On the other hand, a breakout above the 50-day moving average could lead to a rally towards the significant $0.55 resistance zone and potentially higher.
The BTC Paired Chart
Ripple’s situation against BTC is even more concerning. The price has recently broken below the 1800 SAT support level and doesn’t appear poised for an immediate recovery.
Both the 50-day and 200-day moving averages indicate a bearish crossover near the 1900 SAT level, signaling a potential downtrend. The RSI indicator also shows values below 50%, indicating bearish momentum and suggesting that the price may drop towards the 1600 SAT area in the coming weeks.
Hot Take: XRP’s Future Uncertainty
The current charts for Ripple’s price against both USDT and BTC raise concerns about its value in the near future. While there is a possibility of a rally if key resistance levels are breached, there are indications of a potential downtrend as well. Traders and investors should closely monitor these technical signals to make informed decisions regarding XRP.
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