Ripple Price Prediction: XRP/USD Range-bound Around $1.06

Ripple Price Prediction – October 29

As the daily chart reveals, the Ripple price prediction has not been able to develop the upside momentum above the moving averages.

XRP/USD Market

Key Levels:

Resistance levels: $1.30, $1.35, $1.40

Support levels: $0.80, $0.75, $0.70

XRP/USD is seen trading near the resistance level of $1.10. Unfortunately, the coin failed to hold the ground above this level as it quickly retreated towards the support of $1.04. Moreover, XRP/USD continues to follow a sideways movement since the past few weeks. Therefore, the coin may now remain at a tight range which could limit its bullish movement towards the upside.

Ripple Price Prediction: Ripple Price Not Yet Ready to Escalate

The Ripple price commences an intriguing recovery towards a $1.10 resistance level and the initial break above the 9-day and 21-day moving averages may boost the price to the upside. However, the Ripple (XRP) hit a daily high of $1.09 before retreating back to where it is currently trading at $1.06. Meanwhile, from above, more hurdles may come into play towards the upper boundary of the channel if the 9-day MA crosses above the 21-day MA.

However, the short-term trend remains in the hands of the bulls supported by the technical indicator where the Relative Strength Index (14) is likely to cross above 50-level. Therefore, a break above this level may most likely push the coin above the potential $1.30, $1.35, and $1.40 resistance levels while a break below the lower boundary of the channel may lead the crypto to the support levels of $0.80, $0.75, and $0.70 respectively.

By comparing with Bitcoin, the Ripple price is consolidating below the 9-day and 21-day moving averages and the bulls have not been able to keep the price above this barrier. Therefore, should in case the Ripple price cross above the moving averages, the market price may likely hit the resistance level of 2000 SAT and above.

However, if the coin creates any downtrend, XRP/BTC may head towards the critical support level of 1500 SAT and below. Meanwhile, the technical indicator Relative Strength Index (14) is likely to remains below the 40-level, indicating a bearish signal.

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