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2 hours ago | Michael Fasogbon

Ripple price: $0.28
Key XRP resistance levels: $0.30, $0.33, $0.35
Key XRP support levels: $0.27, $0.26, $0.25

*Price at the time of writing

Ripple Long Term Trend Price Prediction: Bearish

Ripple made a significant positive move during the past few days’ trading after remaining in a perpetual bearish for the past weeks. On September 18, the trade saw a sudden bullish surge that now records the monthly high at $0.32 resistance with a cumulative gain of +20% in three days. 

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Following the recent bearish action, the 3rd largest cryptocurrency is now down by -0.65%. For this reason, the price has witnessed a slight drop to $0.277, where the XRP price is currently changing hands. The price action is now subdued under bearish control.

With the current market condition, the next level of support to look out for is the $0.27, $0.26 and $0.25 – the August support. As revealed on the RSI indicator, Ripple’s XRP is now looking for support at the mid-band. If the RSI 50 fails to hold, the price may further correct lower.

Conversely, Stochastic RSI is currently oscillating to its lowest condition. A climb back could send the market back on a swing high to test $0.30, $0.33 and $0.35 resistance. Above all, rise above the channel formation should give a clear signal for a strong bullish momentum.

Ripple Medium Term Trend Price Prediction: Bearish

The 4-hour chart is presenting a bullish outlook for the XRP market although eroding a bearish scenario. As of now, the cryptocurrency is selling back to significant support at $0.27, from where a rebound is likely to trigger. 

If such a scenario occurs, the price of XRP is expected to resume buying at the $0.29 and $0.30. A drive above these mentioned price zones may allow the market to prints $0.31 and above. In case the $0.27 fails to act as a rebound level, we may see a bearish extension to $0.26 and $0.25 support – an important level for this market. 

RSI indicator is now playing sideways since the market fell significantly below the 50 level. A climb back may occur if the buyers can regroup well in the market. Stochastic RSI is now reflecting weakness in price due to the last few days of drops. As we can see, Ripple’s XRP is currently trading at the extremely oversold territory.

Ripple Short Term Trend Price Prediction: Bearish

The XRP market is now trending downward after breaking the three days triangle pattern to the downside, allowing the sellers to regain control of the market. Due to this, the next immediate support for the XRP bear lies at the $0.27, followed by $0.26.

If the buyers can regroup at the potential supports, Ripple’s XRP may retest the break level at the $0.285 before resuming the bear rally. A further buy could bring the market to $0.29 and $0.30 resistance, above the triangle formation. Meanwhile, both indicators are now at their lowest condition, revealing the latest bearish action in the market. 

(Excerpt) Read more Here | 2019-09-22 08:45:38


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