The Ripple (XRP) Price is Falling
The price of the Ripple coin (XRP) is currently on a downward trend after reaching a high of $0.73. The uptrend ended as buyers failed to sustain the positive momentum above the $0.74 mark. Additionally, XRP has reached the overbought zone of the market.
Long-term XRP Price Forecast
The bullish scenario suggests that XRP will resume its uptrend if it rises above the support at $0.61 or the moving average lines. The altcoin will continue to rise and retest its previous high of $0.74. However, if the bears break below the moving average lines or the $0.61 support, the current rise will come to an end. On the other hand, the bearish scenario is that the downtrend will continue until the price reaches the $0.61 low, falling back to the range between $0.45 and $0.55.
XRP Indicator Analysis
On the 4-hour chart, XRP has fallen below the moving average lines, indicating that it will continue to fall. However, on the daily chart, the price bars are above the moving average lines, suggesting that it will continue to rise.
Technical Indicators
Key resistance levels – $0.80 and $1.00
Key support levels – $0.40 and $0.20
What’s Next for XRP?
XRP is currently trading at around $0.75 after facing rejection. If selling pressure breaks above the $0.60 support, then it will be range-bound. Currently, selling pressure has eased above the moving average lines, allowing buyers to recoup their losses.
Hot Take: XRP’s Future Movement
As XRP continues to fluctuate and struggle around its recent high of $0.61, its future movement remains uncertain.
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