Ripple price is shredding yesterday’s gains after showing signs of a decent upside correction. The XRPUSD pair could continue lower if the $0.24 support fails to hold.
Ripple Price Technical Prediction
Yesterday, October 1, the price of Ripple (XRP) was in a range bound move below the 12-day and 26-day Exponential Moving Averages (EMAs). The bulls pushed the price from under $0.24 to break above the $0.26 level but were resisted. As a result, Ripple price started a fresh decline, breaking below the $0.25 support level. However, the decline was limited and contained by the $0.24 support level, where it currently trades.
On the downside, if the sell-off continues, the crypto’s price will drop towards $0.23 price level. On the upside, if more buyers emerge, the coin will face resistance at the $0.25 price level.
Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which indicates a sell signal.
XRPUSD Price Short-term Prediction
On the 1-hour chart, XRPUSD price is in a bearish trend below the12-day and 26-day EMAs. Today, the pair is shredding gains and is struggling to maintain the $0.24 support level. Therefore, there are possibilities for further declines towards the $0.23 support level.
If the bears crack the $0.23 support, there could be a sharp drop to $0.21. Meanwhile, the MACD line and the signal line are below the zero line which indicates a buy signal.
- Resistance Levels: $ 0.25, $0.25, $ 0.27
- Support Levels: $0.24, $0.23, $0.21
Disclaimer
Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.