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Ripple Price Prediction: XRP/USD Consolidates Below $0.85 Level

Ripple Price Prediction – June 18

As the market opens today, the Ripple price is seen dropping from $0.85 to $0.79 and this followed a bullish movement of yesterday.

XRP/USD Market

Key Levels:

Resistance levels: $1.20, $1.30, $1.40

Support levels: $0.50, $0.40, $0.30

Ripple Price Prediction
XRPUSD – Daily Chart

Having slumped beneath the $0.80, XRP/USD may continue to show weakness in price until the market finds a stable level to reinforce a bullish run. For now, a new low is yet to be ascertained as bears remain dominant and active over the past few days. Traders may need to wait for the sellers to exhaust momentum before longing and shorting Ripple (XRP) might be the best position for now.

Ripple Price Prediction: What Could Be the Next Direction?

As the Ripple price moves sideways, if the market eventually resumes sell-off now, XRP/USD may continue to trade below the 9-day and 21-day moving averages and if this persist, before the Ripple (XRP) get to the lower boundary of the channel, it could find immediate support at $0.60 and $0.55 while the critical supports lie at $0.50, $0.40 and $0.30. Moreover, the Ripple (XRP) has continued to erode bearishly on the daily time frame.

On the other hand, a bullish rally will only confirm if the market can climb significantly above the 9-day and 21-day MAs at $0.95. Meanwhile, the technical indicator Relative Strength Index (14) is currently moving below 40-level. Therefore, if the Ripple price manages to surge above $1.00, it may see the resistance levels at $1.20, $1.30, and $1.40.

Against Bitcoin, the pair is consolidating within the channel as the coin keeps moving below the 9-day and 21-day moving averages. However, the buyers are making effort to push the price upward so that the bullish continuation may take it above the MAs to hit the resistance levels of 2800 SAT and 3000 SAT respectively.

XRPBTC – Daily Chart

Moreover, if the bulls failed to push the price upward, the Ripple price may drop below the lower boundary of the channel and the nearest support levels to be reached are 1600 SAT and 1400 SAT. On the contrary, the technical indicator Relative Strength Index (14) is moving in the same direction around 38-level, suggesting sideways movement for the coin.

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