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Ripple Price Prediction: XRP/USD Retreats as $0.20 Resistance Level Remains a Distant Dream

XRP Price Prediction – April 26

The price to buy Ripple is seen following a decent rise over the past few days as the coin now appears to be resuming a bullish run.

XRP/USD Market

Key Levels:

Resistance levels: $0.22, $0.23, $0.24

Support levels: $0.16, $0.15, $0.14

XRPUSD – Daily Chart

XRP/USD hit the intraday high at $0.198 amid the resumed recovery on the cryptocurrency market. However, the upside proved to be unsustainable as the price retreated back to $0.188 at the time that the market opens today. More so, the Ripple (XRP) is the third-largest digital asset with the current market value of $8.6 billion and an average daily market trading volume of $1.65 billion.

Moreover, in the last few days, the Ripple price has remained relatively strong to the extent that the gains above the vital $0.19 have been acutely steady. In this same manner, the movement to the downtrend has been cut short but in the early hours of today, the Ripple price went down from $0.192 to $0.188. The bulls had taken the price up to $0.197 before the bears stepped back and took it down.

Furthermore, a significant cross above the key resistance could sustain the bulls to $0.20 high. Meanwhile, XRP/USD is currently following an upward trend and still maintaining it. If XRP manages to surge above $0.20, it may see the resistance levels at $0.22, $0.23 and $0.24, though a further drop may take the price to the support levels $0.16, $0.15 and $0.14. The Stochastic RSI indicator is showing some bullish signals by moving into the overbought zone.

Against Bitcoin, before this time, the market price is moving towards the downtrend and trading within the descending channel. For now, XRP/BTC is trading at 2576 SAT and expecting a break below the channel. Now, merely looking at the daily chart, the bears are seen coming to dominate the market.

XRPBTC – Daily Chart

However, if the market drops more, the next key supports may likely be at 2400 SAT and below. On the bullish side, a possible rise could push the market to the resistance levels of 2750 SAT and above. According to the stochastic RSI, the market is in a downtrend as the signal lines are within the oversold territory, which could trigger more bearish signals into the market soon.

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.