Tuesday , March 19 2024
Home / Bitcoin (BTC) / Bearish Signs for Ripple Appear, Will $0.40 Hold? (XRP Price Analysis)

Bearish Signs for Ripple Appear, Will $0.40 Hold? (XRP Price Analysis)

Summary:
Presently, XRP’s price action is not looking overly promising against either USDT or BTC. Things could worsen in the coming days if all remains as it is right now. Technical Analysis By: Edris XRP/USDT Daily Chart On the daily chart, the price continues its struggle to break above the %excerpt%.43 resistance level, following a push above both the 50-day and 200-day moving average lines. In case the cryptocurrency finally moves beyond the aforementioned level, a rally toward the %excerpt%.55 resistance area could be expected. This scenario would likely lead to a new bullish phase in the short term. On the contrary, a rejection from the %excerpt%.43 level would likely initiate a decline toward the 50-day moving average located around the %excerpt%.35 mark, and the %excerpt%.3 support level would even be

Topics:
CryptoVizArt considers the following as important: , , ,

This could be interesting, too:

Dimitar Dzhondzhorov writes Ripple (XRP) Embraced by This US-Based Crypto Exchange: Details

CryptoVizArt writes XRP Bull Run Paused as Bears Push Toward %related_posts%.6 (Ripple Price Analysis)

Dimitar Dzhondzhorov writes XRP’s Price Eyeing the Target in the Next Few Months Despite the Market Correction: Analyst

CryptoVizArt writes Ripple Price Analysis: XRP Bull Run Finally Here as Buyers Push to %related_posts%.70?

Presently, XRP’s price action is not looking overly promising against either USDT or BTC. Things could worsen in the coming days if all remains as it is right now.

Technical Analysis

By: Edris

XRP/USDT Daily Chart

On the daily chart, the price continues its struggle to break above the $0.43 resistance level, following a push above both the 50-day and 200-day moving average lines.

In case the cryptocurrency finally moves beyond the aforementioned level, a rally toward the $0.55 resistance area could be expected. This scenario would likely lead to a new bullish phase in the short term.

On the contrary, a rejection from the $0.43 level would likely initiate a decline toward the 50-day moving average located around the $0.35 mark, and the $0.3 support level would even be highly probable.

xrp_price_chart_2701231
Source: TradingView

XRP/BTC Daily Chart

Against Bitcoin, the price is seemingly on the verge of breaking the 0.000018 level to the downside after days of consolidation above it. This would lead to a drop towards the lower boundary of the descending channel and the 0.000015 area.

Furthermore, the 50-day MA is also crossing the 200-day MA to the downside, around the 0.00002 mark. This is considered a bearish signal and would further increase the probability of a drop toward the 0.000015 level in the short term.

xrp_price_chart_2701232
Source: TradingView

Leave a Reply

Your email address will not be published. Required fields are marked *