- Ripple price prediction is in the stagnant territory as price looks towards BTC/USD pair
- Sideways price movement shows indecision between bulls and bears
- XRP/USD pair is revolving near the $0.252 mark
Ripple price prediction – XRP/USD enters unknown territory
Ripple price prediction is moving in the sideways territory as the price is struggling to go beyond the $0.2590 level. The pair has been rejected multiple times from the $0.261 resistance level as bears have maintained consistent selling pressure at higher levels. Against Bitcoin, Ripple is struggling as the dwindling altcoin rally is now exhausting and US Presidential elections near.
The bearish triangle has been broken by the bulls earlier today, but the price hasn’t picked up pace yet. The critical support level at $0.25 is still in play as bulls strongly guard their defenses. Last week, Ripple price prediction entered the bullish region after constant buying emerged to break the symmetrical triangle pattern.
The XRP/USD pair must overtake the $0.261 level to join the Bitcoin rally. However, the inability to break above the $0.261 level shows that 0.5 Fibonacci resistance is too strong to overcome as of now.
Ripple price movement in the last 4 hours – Frustrating sideways movement continues
The repeated failure to move past $0.26 resistance meant that day traders began profit booking. The persistent bearish pressure further caused the altcoin to post price under the $0.249 level where the twenty day EMA is located. Ripple price prediction further relies on ability to hold next support at $0.244.
For the bulls to undertake accumulation, the price must not fall below lower levels at $0.250 and close the day above 50-day SMA, the bearish pressure can be warded off. Constant buying activity over the next few hours can bring $0.30 in the picture. The XRP/USD pair is not moving in sync with the BTC/USD pair, which makes it at odds with the broader crypto market gains.
If the price sinks under the 50-day SMA, the bears can intensify the selling pressure, which can extend the selloff to the $0.229 level in the next few hours. Technical indicators like RSI and MACD are flat, signifying that the pair is struggling to establish a direction. With limited liquidity and volume, it is unlikely that XR/USD will make any concrete gains.
XRP/USD 4-hour chart – Mix of green and red candles shows the indecisive market
Ripple closed last week with a nominal gain of 4.52 percent. However, it began the week on a weak note as the price declined by 1.20 percent. The flip-flop by the traders is also evident in declining volumes. Even though the pair hit a high of $0.25927, the gains were quickly washed off by the profit booking.
Currently, Ripple price prediction is oscillating between $0.25151 and $0.2583 level. The first support held the pair back at the $0.2535 level, where it bounced well due to bullish buying activity. Traders are unable to make any insights from the mixed technical signals. There isn’t any major macro move to sway the pair in either direction. Fortunately, the pair haven’t explored its lower support levels repeatedly since the pattern of ‘lower highs’ can create a bearish divergence.
XRP/USD looks for support from the broader market
The indecisiveness in the market will be broken once the pair gets any boost from the broader crypto market. For the day ahead, the XRP/USD must break out of the narrow range to touch the $0.2591 level. The resistance at $0.2566 is proving challenging for the bears to break turning Ripple price prediction highly negative.
In case there’s no broader crypto rally by tomorrow, the pair won’t be able to breach any upward resistance. The second resistance at $0.2599 will come into play, provided bulls maintain a strong wave. The pair cannot stay at the $0.2540 pivot for too long as bears can target the $0.2506 level from here.
XRP/BTC – Ripple unable to cross 2000 SAT
The XRP/USD pair is struggling to move beyond the 2000 SAT on the hourly charts. There’s considerable resistance at the 1960 SAT, followed by more selling pressure at the 2000 SAT. The past few attempts have proven futile.
Last week too, sellers emerged above the 2000 SAT mark. Even today, the pair pushed above 2000 SAT, the 1.618 Fibonacci, and were quickly rejected from this level. The support around the 1915 SAT is holding the fort for the pair. Unfortunately, if the bulls aren’t able to hold the 1910 SAT, it would mean new yearly lows for the XRP/BTC pair.
Technically, the RSI is currently in the oversold region. Also, MACD is indicating a continued downtrend as it points downwards. Looking ahead, 2000 SAT must be breached confidently to target the 2035 SAT in case bulls wants to turn the Ripple price prediction picture around.
Ripple price prediction – Exhausted bulls won’t hold the fort for long
Ripple price prediction isn’t working in sync with the broader altcoin market. The gains in XRP/USD do not match the corresponding gains in other cryptocurrencies during the past few weeks. The inability to break past key resistances during a broader crypto market rally shows the inherent weakness in the Ripple’s price action.
The dropping volume and bearish signal in Stochastic RSI are further complicating the scene for a bullish move in XRP/USD pair. The bulls have to show aggressive buying to penetrate above the .618 Fibonacci resistance to touch the $0.271 level.
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