Top XRP Price Analysis: Predicting the Most Likely Scenarios for Ripple in the Near Future

Top XRP Price Analysis: Predicting the Most Likely Scenarios for Ripple in the Near Future

Ripple’s price has been declining gradually against both USDT and BTC, forming lower highs and lows. Nonetheless, there is still reason for optimism as there is a probable for a rebound from the nearby level of support. Technical Analysis

By Edris

The USDT Paired Chart

The price of Ripple has been experiencing a bearish trend against USDT on the daily timeframe. The 200-day moving average is acting as resistance, preventing the price from growing towards the $0.55 resistance zone. If the 200-day moving average holds, it is likely that the market will fall to the $0.43 level of support in the short term. The RSI indicator likewise shows values below 50%, indicating that momentum favors sellers and a retest of the $0.43 level is probable.

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The Bitcoin Paired Chart

Against BTC, XRP Ripple (XRP) has reached a whole lot of level of support at the 1800 SAT area. The 200-day moving average in this zone is providing critical support. If this level breaks down, it might lead to an unfavorable situation for XRP Ripple (XRP) and a subsequent collapse. On the other hand, if there is a short-term rebound, the price would need to surpass the 50-day moving average around the 2000 SAT mark before aiming for higher targets.

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Hot Take: What to Expect for XRP Ripple (XRP) in the Coming Days

Ripple’s price has been on a downward trend against both USDT and BTC. Nonetheless, there is still hope for a probable rebound from nearby support levels. In the USDT paired chart, the price is facing resistance from the 200-day moving average, which could result in a fall to the $0.43 level of support. In the meantime, in the Bitcoin paired chart, XRP Ripple (XRP) has reached a whole lot of level of support at 1800 SAT with critical backing from the 200-day moving average. If this level of support holds, a short-term rebound may be possible. Nonetheless, if the level of support breaks, it might lead to a negative outcome for XRP Ripple (XRP).

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