Ripple’s Troubling Trend
Unfortunately, Ripple’s future doesn’t look bright. XRP has been on a downward trend against USDT and has also broken a crucial support level on the BTC pair.
Technical Analysis
By TradingRage
XRP/USDT Pair
XRP has been experiencing lower highs and lows within a descending channel when paired with USDT. Once it dropped below the 200-day moving average at around $0.6, there have been no signs of recovery.
In the next few weeks, it’s likely that the market will continue to decline towards the lower boundary of the channel before any possibility of a bullish reversal.
XRP/BTC Pair
The XRPBTC pair is even more concerning on the weekly chart. It recently fell below the critical 1200 SAT level. If it fails to rise above this level soon, the next target for the downtrend would be the 800 SAT support level.
With the Relative Strength Index indicating values below 50%, there is a significant probability of further downside at this time.
Hot Take: Ripple’s Struggles Continue
Ripple’s XRP is facing ongoing challenges, with both its USDT and BTC pairs showing bearish signals. The downward trend suggests that Ripple may continue to struggle in the coming weeks, potentially hitting new lows before any chance of recovery. Investors should closely monitor these charts to make informed decisions about their XRP holdings.
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