Ripple Price Prediction: XRP/USD Rebounds, Lacks Buyers at Higher Price Levels

XRP Price Analysis – June 03
Ripple bulls broke the resistance levels of $0.20 and $0.205 and the momentum extended to the high of $0.215. There was a stiff resistance at the $0.215 price level and XRP plunged to $0.197 low. The bulls made an upward correction to trade below  $0.205 resistance. Similarly, XRP/BTC is in a bear market as the coin continues its downtrend.

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

XRP/USD pair  has been on a downward correction after the crypto reached the overbought region of the market. XRP has been on a gradual downward fall from the high of $0.235 to $0.20 low. Recently, XRP rebounded at the $0.195 low to break the $0.20 resistance. The momentum was insufficient to break the resistance levels of $0.215, $0.225, and $0.235. Fortunately, the coin will resume an upward move as the downtrend line has been breached.

Currently, buyers are battling to break the resistance at $0.205. On the upside, a strong bounce above $0.20 support will break the resistance levels of $0.205 and $0.215. This will accelerate price to retest the resistance at $0.225 and $0.235. Ripple will rally above $0.25 resistance when all the resistance levels are breached through a strong rebound. Presently, Ripple is below 80% range of the daily stochastic. This explains that the market is in a bearish momentum. Meanwhile, the price action is showing a bullish signal

When compared with Bitcoin, XRP/BTC is still in a downtrend. The bulls are not making efforts to push price upward. A correction candle body tested the 0.618 Fibonacci retracement level.

XRP/BTC – Daily Chart

This indicates that the market will fall and reverse at 1.618 Fibonacci extension level. In other words, the crypto will reverse at Ƀ0.00001800. Presently, the market has fallen to Ƀ0.00002127 at the time of writing. The coin will reach the Fibonacci low if the selling pressure resumes. Meanwhile; the pair is at level 42 of the Relative Strength Index. It indicates the price is in the downtrend zone and it is below the centerline 50. The pair is likely to fall

Please note: 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.

Top brokers for buying and trading cryptocurrencies

  • Platform
  • Features
  • Rating
  • Visit Site
  • US-Friendly
  • Paypal accepted
  • 12+ cryptocurrencies

Visit Site
75% of retail investors lose money.
eToro Reviews

    eToro Reviews your account
    Hide eToro Reviews
    • Best broker for non-US countries
    • Trade crypto CFDs, forex and stocks
    • No withdrawal or deposit fees

    Visit Site
    80.5% of retail investors lose money.
    Plus500 Reviews

      Plus500 Reviews your account
      Hide Plus500 Reviews
      Remember, all trading carries risk. Past performance is no guarantee of future results.

      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.