Ripple Price Prediction – August 2
For the past few days, the Ripple price has been unable to develop bullish momentum above the $0.80 resistance level.
XRP/USD Market
Key Levels:
Resistance levels: $0.95, $1.00, $1.05
Support levels: $0.55, $0.50, $0.45
XRP/USD is bullish as the market retraced to $0.70 support and currently prepares to move higher again. Therefore, we expect the Ripple price to move higher later today and push towards the $0.80 level. Although XRP/USD opened yesterday at $0.74 after a bearish closing price, since then, the market has moved sideways as the bulls prepare to rise. Therefore, we expect XRP/USD to rise to the next target at $1.00 in the next 24 hours.
Ripple Price Prediction: Ripple Price May Move Higher
If the Ripple price manages to keep the market above the upper boundary of the channel; they may likely find the resistance levels of $0.95, $1.00, and $1.05. Meanwhile, if the market begins to experience the bearish movement, it may likely hit the nearest support below the 9-day and 21-day moving averages and a further drop could pull the market to $0.55, $0.50, and $0.45 supports. Meanwhile, the technical indicator Relative Strength Index (14) is slowly moving above the 60-level, suggesting sideways movement.
When compares with Bitcoin, the Ripple price is still pointing up based on the technical indicator, although price movement above the 9-day and 21-day moving averages has remained intact. Therefore, if the buying pressure continues, the Ripple price volatility is likely to create a new high in the coming trading days.
At this time, the technical indicator Relative Strength Index (14) is hovering above the 50-level; Traders could continue to see positive market movement soon if the signal line remains above the 50-level and can also expect close resistance at 2000 SAT if the market price rises up above the upper boundary of the channel to reach crucial resistance at 2300 SAT and above.
However, when a downward movement occurs and confirms a breakdown well below the 9-day and 21-day moving averages; Traders can confirm a bearish movement for the market, and the next support levels are located at 1500 SAT and below.
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