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Ripple Price Prediction: XRP/USD Must Close Above $0.22 for Greater Recovery

XRP Price Prediction – May 14

The Ripple price is trading in the positive territory, with gains of some 0.44%.

XRP/USD Market

Key Levels:

Resistance levels: $0.24, $0.25, $0.26

Support levels: $0.15, $0.14, $0.13

XRPUSD – Daily Chart

XRP/USD moves from $0.200 in a matter of hours to touch an intraday high at $0.206. While the coin has retreated to $0.203 at the time of writing, the pair retains bullish momentum. In the short term, XRP/USD has gained more than 0.44% within 24 hours. Meanwhile, the bulls needed a daily break and closure above the 9-day and 21-day moving averages to invite greater buying momentum.

At the moment, the price of the coin is changing hands at $0.203 level and the bulls are still pushing the price towards the north. But if the Ripple (XRP) fails to continue above the $0.205 resistance level, there might be another decline below the moving averages to break down the lower boundary of the channel. The initial support is near the $0.180 level, if this support level fails to contain the sell-off, the price may then be pushed to other support levels of $0.15, $0.14, and $0.13.

Moreover, the technical indicator RSI (14) is moving around 49.06-level which still confirms the bullish trend that may take the coin to the nearest resistance level of $0.22, further resistance could be found at $0.24, $0.25 and $0.26 levels before the market is free to make another attempt at $0.28 level.

When compared with Bitcoin, XRP is currently trading on the downside. If the selling pressure persists, the Ripple price variation may likely create a new low in the coming days. For now, the RSI (14) is within the oversold zone; we may see a negative move in the market soon.

XRPBTC – Daily Chart

However, the coin is currently trading below the 9-day and 21-day moving averages at 2117 SAT. We can expect close support at the 1900 SAT before breaking to 1800 SAT and critically 1700 SAT levels. If a bullish move occurs and validates a break above the moving averages; we can then confirm a bull-run for the market and the closest resistance levels lie at 2400 SAT and above.

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.