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Ripple Price Prediction: XRP/USD Falls to $0.12 Low, as Bulls Push Back

XRP Price Analysis – March 14
XRP/USD pair appears to be on a downward move since February 14. The market has been falling from a high of $0.34 overhead resistance. Today, Ripple has fallen to a low of $0.12 and price is making an upward move. In XRP/BTC, the downtrend reached a low of Ƀ0.00002400 but the pair is making an upward move to the high of Ƀ0.00002822.

XRP/USD Market
Key Levels:
Resistance Levels: $0.24, $0.26, $0.28
Support Levels: $0.22, $0.20, $0.18

XRP/USD – Daily Chart

The recent downward move of Ripple was as a result of the overbought nature of the coin. Ripple was said to be overbought at $0.34. Sellers emerge to push the coin downward. The market was falling and making a series of lower highs and lower lows. The final downward move was when the market fell to a low of $0.20 and the bulls took price to a high of $0.21.

At the high of $0, 21, the bulls face aggressive selling which resulted in Ripple reaching the low of $0.12. Ripple is currently in an upward move but faces resistance at $0.16.Nonetheless, Ripple is below 20% range of the daily stochastic. In other words, Ripple is in the oversold region of the market. Buyers are to emerge to push XRP upward.

XRP/BTC – Daily Chart

Similarly, on the XRP/BTC chart, the market was in an uptrend as the price reached a high of Ƀ0.00003200. The bears were on hand as the bulls were resisted. The market fell to the low of Ƀ0.00002400. The pair is making an upward move and is approaching the high of Ƀ0.00002822.

 

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      Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.