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Ripple Price Prediction: XRP/USD Falls to $0.18 Low, Sellers Threaten to Short

XRP Price Analysis – April 11
On April 6, XRP/USD pair reached the high of $0.20500 and traded below the resistance. The bulls made concerted efforts to break the $0.20 resistance but were repelled. On the XRP/BTC pair, the market is in a sideways trend between Ƀ0.00002500 and Ƀ0.00003000.

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

BTC/USD – Daily Chart

After price rebounded at a low of $0.18, Ripple reached a high of $0.20. The bulls made two unsuccessful attempts to push price above the $0.20 resistance but were resisted. The market fell to a low of $0.18. The bears are still threatening to sink price further downward. This will depend on the ability of the bulls to defend the current support. On the downside, if the bears succeed in breaking the $0.18 support, the market will fall to a low of $0.15. Conversely, if the $0.18 support holds, a rebound is possible above the support. Ripple will resume a new uptrend. The rebound will cause a price rally above $0.20. Subsequently, the momentum will extend to a high of $0.24.Presently, Ripple is below 80% range of the daily stochastic. This explains that the market is in a bullish momentum

Similarly, on the XRP/BTC chart, the market is in a sideways trend. The pair has been trading between the levels of Ƀ0.00002500 and Ƀ0.00003000. The upper and lower price range has been broken once on either side.

XRP/BTC -Daily Chart

In February, the Ƀ0.00003000 resistance was broken and the market reached a high of Ƀ0.00003300. The upward move was terminated and price fell back to the range-bound zone. In March, the Ƀ0.00002500 resistance was broken and the market reached a low of Ƀ0.00002400. The bulls pulled back to the range-bound zone. Meanwhile; the pair is at level 54 of the Relative Strength Index. It indicates the price is in the uptrend zone and it is above the centerline 50. The pair is likely to rise.

 

Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

 

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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.