Ripple Price Prediction – April 1
The Ripple price prediction shows that XRP could renew the bullish trend after testing the support level of $0.80.
XRP/USD Market
Key Levels:
Resistance levels: $0.95, $1.00, $1.05
Support levels: $0.70, $0.65, $0.60
XRP/USD regains ground after touching the low at $0.80 yesterday. The Ripple price is currently changing hands at $0.83 with a slight gain of 1.96% since the start of the day. In spite of the recovery, the Ripple price is hovering below the 9-day and 21-day moving averages as the coin takes seventh place in the global cryptocurrency market rating, with a current market capitalization of $39.92 billion.
Ripple Price Prediction: Would Ripple Price Go Up or Down?
According to the daily chart, the Ripple price is moving towards the resistance level of $0.85 as the initial move above the 9-day and 21-day moving averages could boost the price further up. The Ripple (XRP) hits the daily high at the $0.83 level, looking at it from above, more bullish movements may come into play if the Ripple price crosses above the moving averages to locate the nearest resistance level at $0.85.
However, the traders can see that the daily movement remains in the hands of the bulls as the technical indicator Relative Strength Index (14) is moving to cross above 45-level, building on the consistent recovery from the downside. Meanwhile, a break above the $0.90 level may likely push the coin towards the potential resistance levels of $0.95, $1.00, and $1.05 while a drop towards the lower boundary of the channel may lead to the supports at $0.70, $0.65, and $0.60 respectively.
Against Bitcoin, the Ripple is seen moving below the 9-day and 21-day moving averages. After the coin touches the daily high at 1846 SAT today, the coin begins to retreat to where it is currently trading. Meanwhile, the price keeps moving downward as the sellers put pressure on the market.
Moreover, should the buyers return to the market, the Ripple price may rise to the resistance level of 2000 SAT and above. At the moment, the technical indicator Relative Strength Index (14) moves to cross below 40-level as the market faces downward movement while the support level could be located at $1550 and below.
Looking to buy or trade Ripple (XRP) now? Invest at eToro!
68% of retail investor accounts lose money when trading CFDs with this provider
Credit: Source link
