Rippleโs price has been declining gradually against both USDT and BTC, forming lower highs and lows. Nonetheless, thereย is still reason for optimism as thereย is a probable for a rebound from the nearby levelย ofย 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 levelย ofย 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.
The Bitcoin Paired Chart
Against BTC, XRPย Rippleย (XRP) has reached a wholeย lotย of levelย ofย support at the 1800 SAT area. The 200-day moving average in this zone is providing critical support. If this level breaks down, itย might lead to an unfavorable situation for XRPย Rippleย (XRP) and a subsequent collapse. On the other hand, if thereย 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.
Hot Take: What to Expect for XRPย Rippleย (XRP) in the Coming Days
Rippleโs price has been on a downward trend against both USDT and BTC. Nonetheless, thereย 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 levelย ofย support. Inย theย meantime, in the Bitcoin paired chart, XRPย Rippleย (XRP) has reached a wholeย lotย of levelย ofย support at 1800 SAT with critical backing from the 200-day moving average. If this levelย ofย support holds, a short-term rebound mayย be possible. Nonetheless, if the levelย ofย support breaks, itย might lead to a negative outcome for XRPย Rippleย (XRP).
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