Ripple Price Prediction – August 27
Today, the Ripple price prediction has been unable to develop the upside momentum above $1.00 as the coin remains at the downside.
XRP/USD Market
Key Levels:
Resistance levels: $1.25, $1.35, $1.45
Support levels: $0.90, $0.80, $0.70
During the European session, XRP/USD trades above $1.13 but failed to hold the ground and retreated quickly towards $1.11. Nevertheless, the Ripple (XRP) has been following the downtrend for the past few days, XRP/USD now trades within the 9-day and 21-day moving averages but the sideways movement could limit its bullish movements.
Ripple Price Prediction: Price May Retrace Above $1.20
According to the daily chart, the Ripple price is seen hovering within the 9-day and 21-day MAs, and should the bulls manage to push the market price above this barrier; the coin may likely find the potential resistance levels at $1.25, $1.35, and $1.45. Therefore, if the Ripple price touches the negative side, it may experience a bearish movement.
However, it is likely for the Ripple price to hit the nearest support at $1.00 and a further drop could pull the market to $0.90, $0.80, and $0.70 supports. Meanwhile, the technical indicator Relative Strength Index (14) is slowly moving above 50-level, which may introduce more bullish signals into the market.
When compares with Bitcoin, the Ripple price is trading around the 21-day moving average. However, if the selling pressure increases, the bears may likely keep the Ripple price at the downside. Meanwhile, the technical indicator Relative Strength Index (14) is seen moving above 50-level as traders may likely see a positive move in the market soon.
Moreover, the market can as well expect close support at the 2100 SAT by sliding towards the lower boundary of the channel to hit the critical support of 2000 SAT and below. On the other hand, if a bullish move occurs and validates a break above the 9-day and 21-day moving averages; traders may confirm a bullish movement for the coin as it may locate the potential resistance level at 2700 SAT and above.
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