Ripple Price Prediction: XRP/USD Grinds Lower to Touch $1.28 Support; Watch out for the Next Move

XRP Price Prediction – April 21

The Ripple (XRP) is lacking imminent support within the market and therefore, the coin trades in the red with dense selling pressure.

XRP/USD Market

Key Levels:

Resistance levels: $1.80, $2.00, $2.20

Support levels: $1.00, $0.80, $0.60

XRPUSD – Daily Chart

At the time of writing this article, XRP/USD is now correcting downwards after having hit the resistance at $1.48. However, the king of cryptocurrencies (Bitcoin) is also seen trading below $56,000 and has an impact on the overall trading volume and market cap as well. Currently, the Ripple coin is exhibiting an intraday dip and bearish move, alongside, lack of support.

Where is XRP Price Going Next?

The daily chart reveals that the coin is seen correcting downwards after having soared at $1.48 resistance but unable to hit the higher resistance. The coin is now moving towards the major support at $1.28 but hovering around $1.37 support. However, once the coin rightly gains the required momentum, it is ought to bounce back and retest the formed resistance.

At the moment, the technical indicator RSI (14) faces the south with its signal lines moving below the 60-level. Should the bulls prevail over the bears by moving the price back above the 9-day moving average; XRP/USD may rally towards the $1.80, $2.00, and $2.20 resistance levels. In other words, if the bears continue to push the price below the 21-day moving average; the price could find its low at the support levels of $1.00, $0.80, and $0.60 respectively.

Against Bitcoin, for the past few days now, Ripple (XRP) has been consolidating below the 9-day moving average but the coin is yet to slum below the 21-day moving average, instead, bulls are trying to step back into the market as they maintain an upward movement. Now that the bulls appear to be stepping back, traders can expect a price rise to 2900 SAT and 3100 SAT resistance levels.

XRPBTC – Daily Chart

However, if the sellers push the price down towards the 21-day MA, the next support level could be located at 2200 SAT and further support is found at 2100 SAT and 1900 SAT. Meanwhile, the technical indicator RSI (14) is moving below the 70-level, which may likely move back into the overbought region.

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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.

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