Ripple Price Prediction – August 4
As the daily chart reveals, the Ripple price has not been able to develop the upside momentum above the $0.75 level.
XRP/USD Market
Key Levels:
Resistance levels: $0.90, $0.95, $1.00
Support levels: $0.60, $0.55, $0.50
At the opening of the trading today, XRP/USD is seen trading near the resistance level of $0.75. Unfortunately, the coin failed to hold the ground above this level as it quickly retreated towards the support of $0.65. Moreover, XRP/USD has been following a sideways movement for the past few weeks. Therefore, the coin may now remain at a tight range which could limit its bullish movement towards the upside.
Ripple Price Prediction: Ripple Price May Escalate
The Ripple price commences an intriguing recovery towards a $0.80 resistance level and the initial break above the upper boundary of the channel may boost the price to the upside. However, the Ripple (XRP) hit a daily high of $0.76 before retreating back to where it is currently trading at $0.73. Meanwhile, from above, more hurdles may come into play above the upper boundary of the channel and of course, the nearest resistance level is located at $0.80.
However, the short-term trend remains in the hands of the bulls supported by the technical indicator where the Relative Strength Index (14) is facing the 60-level. Therefore, a break above $0.90 and $0.95 resistance levels may most likely push the coin above the potential $1.00 resistance level while a break below the 9-day and 21-day moving averages may lead the crypto to the support levels of $0.60, $0.55, and $0.50 respectively.
By comparing with Bitcoin, XRP is consolidating above the 9-day and 21-day moving averages and the bulls have not been able to keep the price above the upper boundary of the channel. Therefore, should in case the Ripple price cross above this barrier, the market price may likely hit the resistance level of 1500 SAT and above.
However, if the coin creates an additional downtrend, XRP/BTC may head to the critical support level of 1500 SAT and below. Meanwhile, the technical indicator Relative Strength Index (14) is likely to cross below the 50-level, indicating a bearish signal.
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