Ripple Price Prediction: XRP/USD Consolidates Below the $0.240 Support Level

XRP Price Prediction– September 30

XRP/USD bulls have been trying to break the recent downtrend for quite some time but the price has been rejected from several critical resistance levels.

XRP/USD Market

Key Levels:

Resistance levels: $0.270, $0.280, $0.290

Support levels: $0.210, $0.200, $0.190

XRPUSD – Daily Chart

Looking at the daily chart, we can observe a clear downtrend for XRP/USD. The 9-day and 21-day moving averages have been acting as a robust resistance level even though the price has climbed above it several times. If the bulls want to see a shift in momentum, they will need to hold the price above the moving averages, convert both into support levels and continue trading upwards until they create a bull cross.

Where is XRP Price Going Next?

Ripple (XRP) is currently trading at $0.240 and any attempt below the 9-day and 21-day moving averages could open the door to drop further and the price could fall below the $0.210 support level. However, the traders need to keep an eye on the $0.245 and $0.250 before moving upwards while the resistance levels lie at $0.270, $0.280, and $0.290.

Moreover, the market may experience a quick-buy as soon as the trade reaches the $0.235 support. And if the price fails to rebound, then a bearish breakout is likely to trigger more selling opportunity for traders, which might cause the price to retest $0.210 and could further drop to $0.200 and $0.190 support levels respectively. The RSI (14) is moving below 48, XRP/USD may drop further.

Against Bitcoin, the situation is becoming bleak as the market trades above the 9-day MA at 2237 SAT. The XRP/BTC has not been able to break above this resistance level, causing a drop-down below the 21-day MA. The market opens today with a downtrend where it touches the daily low of 2228 SAT.

XRPBTC – Daily Chart

However, looking at the daily chart, the bears are stepping back into the market and may bring the price back below the 9-day moving average at the nearest support levels at 2100 SAT and below. Meanwhile, the RSI (14) may drop below 40-level, which indicates that the bearish movement may come to play.

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.