Ripple Price Prediction – December 13
The Ripple price prediction is likely to face more selling pressure as the coin could cross below the moving averages.
XRP/USD Market
Key Levels:
Resistance levels: $1.00, $1.05, $1.10
Support levels: $0.65, $0.60, $0.55
XRPUSD – Daily Chart
XRP/USD remains in a tight range after touching the resistance level of $0.85 during the European session of today. The Ripple price might revisit the $0.80 support before it could break above the 9-day and 21-day moving averages. However, after struggling to stay above the 9-day MA, the Ripple price begins a slow and steady decline, as the coin trades below the opening price of $0.84, moving into a bearish zone in the short term.
Ripple Price Prediction: Ripple (XRP) May Claim More Downs
The Ripple price is hovering at $0.82 and any attempt to cross below the lower boundary of the channel may open additional doors for more negative trends and the price could spike below the $0.80 support level. Moreover, further bullish movement above the moving averages may create a new trend towards the resistance levels of $1.00, $1.05, and $1.10.
Nevertheless, the Ripple market may experience a quick buy should in case the coin touches the support at $0.70 and should the price fails to rebound, a bearish breakdown is likely to bring more selling opportunity for traders and this can cause the price to drop to the support levels of $0.65, $0.60, and $0.55. Meanwhile, the technical indicator Relative Strength Index (14) is likely to cross below 35-level to increase the downtrends.
When compares with Bitcoin, Ripple (XRP) is currently trading at 1695 SAT and it is now heading towards the 9-day and 21-day moving averages. If the above-mentioned barrier could serve as market support, the price can be pushed up above the upper boundary of the channel and could hit the resistance level of 1850 SAT and above.
XRPBTC – Daily Chart
However, if the bulls fail to push the price to the nearest resistance, the market may continue the downtrend and it could probably record further declines at the 1600 SAT. Breaking this level could push the market to the nearest support level at 1550 SAT and below. Meanwhile, the technical indicator Relative Strength Index (14) is likely to face the north to confirm the bullish signal.
Looking to buy or trade Ripple (XRP) now? Invest at eToro!
68% of retail investor accounts lose money when trading CFDs with this provider
Comments are closed.