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Ripple Price Prediction: XRP/USD Range-Bound Around $1.05 Level

Ripple Price Prediction
Ripple Price Prediction

Ripple Price Prediction – October 8

The Ripple price is currently hovering above the moving averages as the price has been rejected from several potential resistance levels.

XRP/USD Market

Key Levels:

Resistance levels: $1.25, $1.30, $1.35

Support levels: $0.90, $0.85, $0.80

Ripple Price Prediction
XRPUSD – Daily Chart

According to the daily chart, traders can observe a sideways movement for XRP/USD. The 9-day moving average has been acting as support even though the price has not been able to climb above the resistance level of $1.10. However, should in case the bulls want to see a shift in momentum, they will need to hold the price above the 9-day and 21-day moving averages, converting both into support levels and continue trading upwards until they create a bullish movement.

Ripple Price Prediction: Ripple (XRP) May Move Sideways

The Ripple price is currently trading at $1.05 and any attempt below the 9-day and 21-day moving averages could open the door to drop further and the price could fall below the lower boundary of the channel. However, the traders may need to keep an eye on the $1.20 resistance before moving upwards while the potential resistance levels could be found at $1.25, $1.30, and $1.35.

On the other hand, the market may experience a quick-buy as soon as the market price stays above the moving averages. And if the price fails to rebound, then a bearish breakout is likely to trigger more selling opportunities for traders, which might cause the price to retest $0.95 and any further bearish movement could further drop to the support levels of $0.90, $0.85, and $0.80. The technical indicator Relative Strength Index (14) is moving below 55-level; XRP/USD may follow a sideways movement.

When compares with Bitcoin, the situation is becoming bleak as the market trades below the 9-day and 21-day moving averages. The XRP/BTC has not been able to break above 9-day MA. The market opens today with a downtrend where it touches the daily low of 1937 SAT.

XRPBTC – Daily Chart

However, looking at the daily chart, the bears may be continue to dominate the market and could bring the price back below the lower boundary of the channel at the nearest support level at 1700 SAT and below. Meanwhile, the Relative Strength Index (14) may cross into the oversold region, which indicates that the bearish movement may continue to play out.

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