Search Inside Bitcoins

XRP Price Prediction: XRP/USD Market Hasn’t Recovered Since It Lost Momentum Below $0.80 Value

XRP Price Prediction – January 1
XRP’s market-worth as traded against the valuation of the US Dollar has been under selling pressures since the crypto couldn’t swing northward past a resistance level at $0.80

Key Levels:
Resistance levels: $0.40, $0.50, $0.60
Support levels: $0.15, $0.10, $0.05

XRPUSD – Daily Chart
The market-valuation of XRP/USD has subjected to a series of significant decreases throughout trading sessions. On Dec. 4, a bearish candlestick formed as a confirmation sign against the 14-day SMA smaller trend-line below $0.70 point. Meanwhile, the 50-day SMA trend-line has been intercepted by the smaller SMA trend-line from the top. That firmly signifies the current bearish pressures in the market.

Where is XRP Price Going Next?
There has been no visible indication that the XRP/USD bulls will quickly reverse against the present bearish pressures it’s been facing for quite a while. The downward pressures still appear not to have been completely exhausted. Nevertheless, traders need to be wary of their entries around the current trading level at $0.20 to avoid being trapped by the market.
At this point in the trading line, it is ideally technical that investors may consider coming into the crypto-trade. Likewise, traders may as well reposition their stands to be on the lookout for any possible bearish reversal sign around the $0.20 as the crypto-market may use the next $0.15 line to find support.

XRP/BTC Price Analysis
Comparing the XRPBTC trade with the XRP/USD market, there’s more slight selling pressure in the crypto-market of the former pair than the latter. The Smaller SMA trading indicator showcases that on the chart. As a result of that, the XRP/BTC trade operations may have to witness trading a new lowest value ever as it averages B0.000005.

Read next

InsideBitcoins uses cookies to improve and customize your user experience. Learn more

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.