Will XRP Crash to $0.40? Bears Maintain Control (Ripple Price Analysis)

Ripple’s price action has been choppy lately, especially against USD. Against BTC, though, things are looking interesting in the short term.

Technical Analysis

By: Edris

XRP/USDT Daily Chart:

Against USD, the price has been consolidating in a narrow range between $0.45 and $0.5. The 50-day moving average, currently around $0.5, is currently pushing the cryptocurrency lower. If XRP drops toward the $0.43 level, the 200-day moving average near that price is expected to provide strong support.

On the other hand, if XRP breaks above the 50-day moving average, investors could be optimistic as the $0.6 resistance is likely to be tested.

This scenario could be ideal for Ripple as the market might enter a mid-term bullish phase after months of consolidation.

XRP/BTC Daily Chart

The market has been trending downward lately. The price has been on a free-fall since the breakdown of the 1,800 SAT level and the 200-day and 50-day moving averages earlier in June.

However, the key 1,500 SAT support zone is currently holding the XRP price from further drops. Additionally, the 50-day and 200-day moving averages printed a bullish crossover a few days back, increasing the probability of a rebound in the short term.

The RSI is also showing values close to the oversold area, boosting the chances of a bullish reversal in the coming weeks.

However, despite these positive signals from indicators, the price action remains bearish, and there is still a high probability of a bearish breakout below the 1,500 SAT level, which could lead to a subsequent crash toward the 1,300 SAT zone in a short period of time.

SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.