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The Ripple price prediction remains in a struggle with the $0.51 level, bolstered by support from the 9-day and 21-day moving averages.
XRP News Update: SEC vs. Ripple Settlement Hopes Drive Increased Buyer Demand
On Monday, June 17, XRP surged by 3.19%, reversing a 0.27% decline from Sunday, June 16, and closing the session at $0.5048. Notably, this marks the first time XRP has maintained the $0.50 level since June 6.
Ripple Prediction Statistics Data:
- Ripple price now – $0.511
- Ripple market cap – $27.44 billion
- Ripple circulating supply – 55.5 billion
- Ripple total supply – 99.9 billion
- Ripple Coinmarketcap ranking – #7
XRP/USD Market
Key Levels:
Resistance levels: $0.60, $0.65, $0.70
Support levels: $0.40, $0.35, $0.30
At the time of writing, XRP/USD is seen trading at $0.51 above the 9-day and 21-day moving averages. Since the past few weeks, the Ripple price has been moving sideways as it continues to struggle to cross above the upper boundary of the channel. However, the attempt to push the coin to the upside shows that the bulls are battling to step back into the market.
Ripple Price Prediction: Would Ripple (XRP) Head to the Upside?
According to the daily chart, the Ripple price might surge above the channel and reach the nearest resistance level of $0.55 if the bulls increase their buying pressure. Further upward movement could push the price to the key resistance level of $0.58. Should Ripple break through this barrier, it could target higher resistance levels at $0.60, $0.65, and $0.70.
Conversely, if the price falls below the moving averages, the nearest support level to watch is $0.48. Beyond this, additional support levels may be found at $0.40, $0.35, and $0.30. The 9-day MA is likely to cross above the 21-day MA, indicating potential for a bullish market push. However, if the 9-day MA remains below the 21-day MA, the coin might trend negatively.
XRP/BTC Could Head to the North
Against Bitcoin, the Ripple price moves to cross above the 9-day and 21-day moving averages as the nearest support level lies below the moving averages. However, if the buyers push the Ripple (XRP) above the upper boundary of the channel, the potential resistance level could be located at 900 SAT and above.
In other words, the market price may cross below the moving averages to give additional bearish signals; therefore, if the coin nosedives toward the lower boundary of the channel, this can lead to a support level of 630 SAT and below. Meanwhile, the market may head to the downside if the 9-day MA remains below the 21-day MA.
However, @WorldOfCharts1 informed his 33k followers on X (formerly Twitter) that XRP is breaking out of a falling wedge with strong volume, anticipating a move towards $0.75 in the coming days if the breakout is successful.
Breaking Falling Wedge With Strong Volume Expecting Move Towards 0.75$ In Coming Days Incase Of Successful Breakout #Crypto #Xrp #Ripple pic.twitter.com/c7tgkMvvU3
— World Of Charts (@WorldOfCharts1) June 17, 2024
Alternatives to Ripple
According to the daily chart, Ripple is currently hovering around $0.51, showing a slightly bullish trend above the 9-day and 21-day moving averages. If the $0.50 resistance level is tested, the coin could potentially break higher. Meanwhile, PlayDoge is rapidly gaining recognition, catching the eye of prominent influencers. With substantial interest already evident, the $PLAY token is positioned to become a significant player in the meme coin space, having raised nearly $4.8 million in the ongoing presale.
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