XRP/USD Recovery Above $0.40 Halts

The Ripple price prediction has not been able to develop the upside momentum above $0.40 as the coin ranges within the channel.

Ripple Prediction Statistics Data:

• Ripple price now – $0.393
• Ripple market cap – $19.7 billion
• Ripple circulating supply – 50.26 billion
• Ripple total supply – 99.9 billion
• Ripple Coinmarketcap ranking – #7

XRP/USD Market

Key Levels:

Resistance levels: $0.500, $0.550, $0.600

Support levels: $0.300, $0.250, $0.200

XRP/USD moves to cross above the 9-day moving average at the beginning of today’s trading, but the coin failed to face the upside as it quickly retreated toward the $0.380 support. However, Ripple (XRP) remains at a tight range which limited its bullish movements above the 9-day and 21-day moving averages.

Ripple Price Prediction: What could be the Next Direction for XRP?

As seen on the daily chart, the Ripple price keeps moving in the same direction as it moves toward the east. If the bulls manage to push the coin above the 9-day moving average; it could find the resistance levels at $0.500, $0.550, and $0.600.

Nevertheless, if the market follows the bearish movement, it could hit the nearest support at $0.350; a further drop could pull the coin to the support levels of $0.300, $0.250, and $0.200. At the moment, the technical indicator Relative Strength Index (14) confirms the sideways movement as the signal line stays below the 50-level. Therefore, traders should keep monitoring the movement of the coin for the next possible direction.

When compares with Bitcoin, the Ripple price is likely to move to the downside, although the price action has remained intact below the 9-day and 21-day moving averages, but, if the selling pressure increases, the Ripple (XRP) may create a new low for the coin, and it could bring the coin to the downside.

At this point, the technical indicator Relative Strength Index (14) is moving in the same direction; traders may likely see a negative move if the bears bring the market price below the lower boundary of the channel, and it could hit the critical support of 1900 SAT and below. On the other hand, if the bulls push the coin towards the upper boundary of the channel, the potential resistance level may be located at 3000 SAT and above.

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