Ripple Price Prediction – August 25
The Ripple price is yet to touch the resistance level of $1.20 level as the coin continues to trade below the 9-day moving average.
XRP/USD Market
Key Levels:
Resistance levels: $1.35, $1.45, $1.55
Support levels: $0.95, $0.85, $0.75
At the time of writing, XRP/USD is seen trading at $1.16 within the 9-day and 21-day moving averages. The cryptocurrency has not been able to maintain its upward movement as it continues to struggle below the 9-day moving average. However, the attempt to keep the upward movement shows that the bulls are battling to be in control of the market momentum.
Ripple Price Prediction: Ripple Price May Extend to the Upside
According to the daily chart, the Ripple price is likely to close above the 9-day and 21-day moving averages and the nearest level of resistance lies at the $1.20 level. Therefore, any additional movement above the upper boundary of the channel could reach the important resistance level at $1.30. More so, if the bulls can put more effort, higher resistance levels are located at $1.35, $1.45, and $1.55.
Meanwhile, if the price decides to cross below the 21-day moving average, the nearest support could be found at the $1.00 level. Beneath this, further supports are located at $0.95, $0.85, and $0.75. However, the technical indicator Relative Strength Index (14) is currently moving around 60-level as traders wait for a bullish crossover to push the market higher. Therefore, the coin may continue to stay within the positive side in as much as the 9-day MA remains above the 21-day MA.
Against Bitcoin, it can be seen that XRP has been struggling to hold grounds above the 9-day moving average as it currently trades at around 2392 SAT. However, the nearest resistance level lies toward the upper boundary of the channel. Meanwhile, if the buyers push the Ripple (XRP) above the 9-day MA, the higher resistance level will be located at 2700 SAT and above.
Moreover, if the market price crosses below the 21-day moving average, it may start giving some bearish signals. Therefore, if the downtrend movement continues, this can lead to the support level of 2100 SAT and below. Meanwhile, the market may move sideways as the technical indicator Relative Strength Index (14) reveals below 60-level.
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
