Ripple’s price has been gradually declining, forming lower highs and lows against both USDT and BTC.
Despite this, investors can still be optimistic, as a potential rebound from the nearby support level is possible.
Technical Analysis
By Edris
The USDT Paired Chart
The price has been going through a bearish trend on the daily timeframe against USDT. The 200-day moving average, located around the $0.5 mark, is currently acting as resistance, preventing the price from rising toward the $0.55 resistance zone.
If the 200-day moving average holds, it is likely that the market will drop to the $0.43 support level in the short term. The RSI indicator also shows values below 50%, indicating that the momentum is in favor of the sellers, and a retest of the mentioned $0.43 level is probable.
The BTC Paired Chart
Against BTC, the price action is looking more interesting, as XRP has reached a significant support level at the 1800 SAT area. The 200-day moving average, located near the same zone, is also providing crucial support. If this level breaks down, the situation could become unfavorable for XRP, and a subsequent crash would be likely.
On the other hand, if there is a short-term rebound, the price would first need to surpass the 50-day moving average, which is currently around the 2000 SAT mark, before aiming for higher targets.
The post Here Are the Most Probable Scenarios for XRP in the Coming Days (Ripple Price Analysis) appeared first on CryptoPotato.