Search Inside Bitcoins

Ripple Price Prediction for Today, May 11: XRP Drops Below $0.50

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Ripple Price Prediction
Ripple Price Prediction

Join Our Telegram channel to stay up to date on breaking news coverage

The Ripple price prediction shows that XRP is down by 15.55% in the last few hours as the coin touches $0.40 support.

XRP/USD Market

Key Levels:

Resistance levels: $0.70, $0.75, $0.80

Support levels: $0.25, $0.20, $0.15

Ripple Price Prediction
XRPUSD – Daily Chart

XRP/USD touches the daily high at $0.52 before giving a bearish signal at the time of writing, the coin is trading below the 9-day and 21-day moving averages as the Relative Strength Index (14) moves into the oversold region. As the coin heads to the downside, any further bearish movement below the lower boundary of the channel could give the market enough strength to dig dip, but crossing above the moving averages might lead the market to the upside.

Ripple Price Prediction: XRP/USD May Stay Within the Negative Zone

The Ripple price is showing a sign of weakness across its markets as the coin is down by 15.55%. The coin is currently reflecting a price drop in the market, and the fall might become heavy if the bearish action continues. However, since the Ripple price heads to the south, traders can expect the trend to keep moving lower if the price action crosses the below channel.

Meanwhile, a break to the upside could strengthen the bulls and push the market price to the resistance levels of $0.70, $0.75, and $0.80, but the bearish continuation might lead the market to a bearish scenario where the price could find the support levels at $0.25, $0.20, and $0.15 respectively.

When compared with Bitcoin, the Ripple price keeps hovering below the 9-day and 21-day moving averages. Therefore, if the bears put more effort, XRP/BTC may create another low. Presently, the technical indicator Relative Strength Index (14) moves to cross into the oversold region; traders may see a negative move below the lower boundary of the channel.

XRPBTC – Daily Chart

However, the Ripple (XRP) is currently changing at 1432 SAT, and if the coin drops below the current value, the market may experience close support at 1300 SAT before breaking to 1200 SAT and below. Nevertheless, if the Ripple price head to the upside; traders may confirm a bull run, and the nearest resistance level could be located at 1900 SAT and above.

Looking to buy or trade Ripple (XRP) now? Invest at eToro!

68% of retail investor accounts lose money when trading CFDs with this provider

Read more:

Join Our Telegram channel to stay up to date on breaking news coverage

Read next