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XRP Price Prediction – September 12
The Ripple (XRP) renews the bullish trend after testing the support level of $0.23 a few days ago.
XRP/USD Market
Key Levels:
Resistance levels: $0.28, $0.29, $0.30
Support levels: $0.21, $0.20, $0.19
XRP/USD is currently following an upward roll after plunging under $0.24 to test support at $0.23 a few days ago. The fourth-largest cryptocurrency by market capitalization has on several occasions in the month of August been purged from highs above $0.30. A monthly high traded at $0.32 marked the end of the bullish action towards $0.40 and paved the way for losses under $0.30.
What is the Next Direction for Ripple?
XRP/USD has commenced an intriguing recovery towards a $0.30 resistance level. The initial break above the 9-day moving average boosted the price farther up. The Ripple (XRP) hit highs above $0.24 before retreating back to where it is currently trading. Meanwhile, from above, more hurdles may come into play above the 21-day moving average and of course, the nearest resistance level is located at $0.27.
However, the trend remains in the hands of the bulls supported by the technical indicator where the RSI (14) is almost crossing above 42-level, building on the consistent recovery from the downside recorded on September 8. Ripple’s bullish scenario is emphasized by the RSI (14) indicator as it extends the action above the 40-level.
Nevertheless, a break above $0.28 and $0.29 resistance levels may most likely push the coin above the potential $0.30 resistance level while a break below the channel may lead to the supports at $0.21, $0.20, and $0.19 respectively.
Against Bitcoin, the pair is consolidating to the downside and moving within the 9-day and 21-day moving averages. Meanwhile, the bulls have been trying to push the price above the moving averages; breaking above the channel may likely take it to the resistance levels of 2600 SAT and above.
In other words, if the coin decides to follow the downtrend, then it may likely hit the critical support at 2100 SAT and 2000 SAT. Meanwhile, the technical indicator RSI (14) is moving above 45-level, suggesting more bullish signals.
Read more:
- Ethereum Price Prediction: ETH/USD Trades Around $244; More Pains May Play Out
- Bitcoin Price Prediction: BTC/USD Stabilizes Above $9,500 As The Bulls Struggling To Move Higher
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