Ripple Price Prediction: XRP/USD Trades at the Downside; Price Down to $0.498 Support

XRP Price Prediction – December 21

XRP/USD is seen trading below the moving averages as the technical indicator RSI (14) moves below the 50-level.

XRP/USD Market

Key Levels:

Resistance levels: $0.650, $0.700, $0.750

Support levels: $0.400, $0.350, $0.300

XRPUSD – Daily Chart

XRP/USD is following the downward movement as it is slowly declining below the key supports. The coin might revisit the $0.500 support before it could start a new increase. After struggling to stay above $0.570, Ripple (XRP) started a slow and steady decline as the coin is now trading below the 9-day and 21-day moving averages to move into a short term bearish zone.

Where is XRP Price Going Next?

However, the pair is currently exchanging hands at $0.521 and any attempt to make it cross below the lower boundary of the channel may likely open the doors for more downsides and the price could spike below the $0.450 support level.  However, traders should keep an eye on the $0.600 before creating a new bullish trend at the resistance levels of $0.650, $0.700, and $0.750.

More so, traders may experience a quick buy once the trade reaches the support at $0.450. And if the price fails to rebound, then a bearish breakout is likely to trigger more selling opportunities for traders, which might cause the price to retest $0.400 and could further drop to $0.350 and $0.300 support levels as the RSI (14) crosses below the 50-level.

When compares with BTC, the Ripple (XRP) is moving on the downside within the descending channel. If the selling pressure persists, the Ripple price variation may likely bring a new low. At the moment, the technical indicator RSI (14) is moving below 40-level; more negative moves may come to play in the market as the pair moves under the 9-day and 21-day moving averages.

XRPBTC – Daily Chart

However, traders may expect close support below the moving averages at the 2100 SAT before breaking to 1650 SAT and below. Meanwhile, if a bullish movement occurs and pushes the coin above the moving averages; traders can then confirm a bull-run for the market and the nearest resistance levels lie at 2750 SAT and above.

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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.