Ripple Price Prediction – August 11
The Ripple price prediction reveals XRP rising with a gain of 3.41% over the past 24 hours as it rises above the $0.90 level.
XRP/USD Market
Key Levels:
Resistance levels: $1.00, $1.05, $1.10
Support levels: $0.75, $0.70, $0.65
XRP/USD is currently holding strong above $0.85 as this level has been supporting the market since a few days ago. Moreover, it could be possible that the more the resistance level of $0.90 is tested, the more it is likely to break higher. On the other hand, if the Ripple price crosses below the 9-day and 21-day moving averages, traders could expect the market price to break beneath and this may likely hit the critical support levels of $0.75, $0.70, and $0.65.
Ripple Price Prediction: Can Ripple Price Retrace Back to the Upside?
According to the daily chart, the Ripple price is hovering around $0.88 with a slightly bullish movement towards the upper boundary of the channel. However, should in case the bulls put more pressure on pushing the Ripple price back to the upside, the resistance levels of $1.00, $1.05, and $1.10 could be reached. Moreover, the technical indicator Relative Strength Index (14) is moving into the overbought zone.
Comparing with Bitcoin, the Ripple price is seen demonstrating high positive signs across the market. Actually, the daily price movement is perpetually looking bullish in the long-term and it is likely for the coin to cross above the upper boundary of the channel within the descending channel. However, XRP/BTC is currently changing hands at 2112 SAT after recovering from the below the 9-day and 21-day moving averages yesterday.
On the upside, if the bulls can break above the upper boundary of the channel, traders can expect initial resistance at 2200 SAT. Above this, higher resistance is expected at 2300 SAT and above. Alternatively, If the sellers push the market below the moving averages, XRP/USD may hit the critical support at 1600 SAT and below. Meanwhile, the Relative Strength Index (14) is likely to cross above 65-level to move into the overbought region.
Looking to buy or trade Ripple (XRP) now? Invest at eToro!
75% of retail investor accounts lose money when trading CFDs with this provider
Credit: Source link
