Ripple (XRPUSD) Price Prediction: Support Level of $0.43 May Be Retested

Sellers are dominating Ripple market

When sellers gain more momentum, the support level of $0.45 may be broken downside and the support level of $0.43 may be tested, which may extend to $0.39 level. In case the Bulls interrupt the bears at $0.45 level, the resistance level of $0.47 may be penetrated, Ripple may increase to $0.50 and $0.52 levels.

XRPUSD Price Analysis – October 16

Key Levels:

Supply levels: $0.47, $0.50, $0.52

Demand levels: $0.45, $0.43, $0.39

XRP/USD Price Medium-term Trend: Bearish

XRP/USD is bearish on the medium-term outlook. The crypto was on the strong bullish movement last week. The bullish trend broke up the resistance levels such as $0.43, and the price is placed at the resistance level of $0.56; this is the second time price will be testing the mentioned level. It means that double top chart pattern formed at the level. It is a bearish pattern, the coin obey the command. It is decreasing towards the support level of $0.45.

XRP is trading below the 9 periods EMA and 21 periods EMA. At the moment, sellers are dominating the Ripple market. The Relative Strength Index period 14 is at 51 levels with the signal lines pointing down which connotes sell signal. When sellers gain more momentum, the support level of $0.45 may be broken downside and the support level of $0.43 may be tested, which may extend to $0.39 level. In case the Bulls interrupt the bears at $0.45 level, the resistance level of $0.47 may be penetrated, Ripple may increase to $0.50 and $0.52 levels.

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XRP/USD Price short-term Trend: Bearish

On the 4-hour time frame outlook, XRPUSD is bearish. The price action has formed a descending channel on the 4-hour time frame. Bullish movement could not continue in the Ripple market when it tested the resistance level of $0.56. Sellers’ pressure increased and the price dropped to the support level of $0.43. Price may decrease further provided sellers maintain their position.

XRP price is trading below the 21 periods EMA and 9 periods EMA which indicates a bearish movement in Ripple market. The relative Strength index period 14 is at 38 levels with the signal lines pointing down to indicate a sell signal.