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Ripple Price Prediction: XRP/USD Gains 1.95% As the Price Settles Above the Moving Averages

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XRP Price Prediction – September 29

In the last 24 hours, Ripple (XRP) is gaining close to 2% and the next resistance level may be at $0.250.

XRP/USD Market

Key Levels:

Resistance levels: $0.270, $0.280, $0.290

Support levels: $0.215, $0.205, $0.195

XRPUSD – Daily Chart

XRP/USD is seen moving from $0.240 to the area above $0.245 in a matter of hours and touched an intraday high at $0.246. While the coin is seen retreating below this level, the pair retains bearish momentum. XRP is currently trading at $0.245 in a daily downtrend which may most likely form a bear flag in the long-term. In the short term, XRP/USD has gained more than 1.95% in the last 24 hours and it is one of the best-performing coins out of the top 10.

What is the Next Direction for Ripple?

Meanwhile, due to a strong upside movement of the coin, Ripple’s XRP faces the uptrend as it is currently trading above the 9-day and 21-day moving averages. Yesterday’s low at $0.239 may now serve as strong support for the coin. If it is broken, the sell-off may be extended to $0.230.

Currently, the bulls are still the controller of the market. If the price moves below the moving averages of 9-day and 21-day, the price could be pushed to the support level of $0.215, $0.205, and $0.195 levels. Moreover, the RSI (14) is moving around 48-level, which indicates that the bullish trend may continue to play out. More so, if the bulls can put more effort to push the XRP/USD higher, further resistance could be found at $0.270, $0.280, and $0.290.

When compares with Bitcoin, XRP is demonstrating some positive signs across the market. The trend is ranging in the long-term and moves within the descending channel. It is currently changing hands at 2274 SAT around the 9-day and 21-day moving averages.

XRPBTC – Daily Chart

The resistance levels to look for are 2450 SAT and 2500 SAT while the closest support levels to keep an eye on are 2080 SAT and 2030 SAT. The technical indicator RSI (14) is planning to cross above the 50-level, indicating more bullish signals.

 9/29/2020

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