Ripple‘s price has been steadily declining over the past few days, raising concerns about the future of XRP. Technical Analysis of the USDT-paired chart shows that the price has been struggling to rebound after dropping from the $0.9 resistance level. The 200-day moving average, which is currently around $0.5, has been unsuccessful in supporting the Market, as the price has been consistently closing below it recently. With the market structure and the RSI indicator indicating values below 50%, it is highly likely that the price will drop further towards the $0.43 support level in the short term.
Turning to the BTC-paired chart, a similar situation can be observed. While the 200-day moving average, which is at around 1850 SAT, remains intact on this chart, the price is forming lower highs and lows, indicating a bearish market structure. If the 200-day moving average and the 1800 SAT support level are broken, the situation will worsen for Ripple, and the price could quickly drop towards the 1500 SAT area.
It is important to conduct thorough research and analysis before making any Investment decisions. The information provided in this article is that of the writer’s and does not necessarily reflect the opinions of CryptoPotato. Cryptocurrency charts provided by TradingView..
#XRP #Declining #Bulls #Ripple #Price #Analysis
Turning to the BTC-paired chart, a similar situation can be observed. While the 200-day moving average, which is at around 1850 SAT, remains intact on this chart, the price is forming lower highs and lows, indicating a bearish market structure. If the 200-day moving average and the 1800 SAT support level are broken, the situation will worsen for Ripple, and the price could quickly drop towards the 1500 SAT area.
It is important to conduct thorough research and analysis before making any Investment decisions. The information provided in this article is that of the writer’s and does not necessarily reflect the opinions of CryptoPotato. Cryptocurrency charts provided by TradingView..
#XRP #Declining #Bulls #Ripple #Price #Analysis
