XRP Price Prediction – February 23
Ripple (XRP) is vulnerable to further losses as long as it stays below $0.26 while the nearest support is located on the approach to $0.25.
XRP/USD Market
Key Levels:
Resistance levels: $0.31, $0.32, $0.33
Support levels: $0.25, $0.24, $0.23
A few days ago, Ripple (XRP) bottomed $0.260 and now recovering to $0.282 by the time of writing. Compared to yesterday’s trading, XRP/USD has gained 2.47% as the market opens today. Although, the current movement is still below the 9-day and 21- moving averages. If the bulls can manage to engineer a sustainable recovery above this handle, the short-term movement will improve slightly, while the coin will get a chance for an upside move towards $0.290.
Looking at the chart technically, XRP may likely experience more losses as long as it stays below $0.260. It has been a while that Ripple maintained a bullish sentiment and stood at least above $0.30. Since a few days ago, the Ripple (XRP) price has collapsed to trade regularly below $0.265 level, but apparently, there is still no price surge against the US dollar.
However, the daily chart has revealed that the sellers are still dominating the market with a slight surge. For now, the key support level to watch out for lies at $0.25 and $0.24. A further drop may slip price to $0.23 support levels. For a retracement move, the $0.29 level is likely to resurface before the rally continues. If the $0.28 could now contain the retracement, the price may further swing to $0.31, $0.320 and $0.33 resistance levels. The RSI (14) is moving above 52-level, indicating an upward trend.
Against Bitcoin, the situation is becoming bleak as the market was seen trading below the 9-day and 21-day moving averages at 2845 SAT. The XRP/BTC was unable to break above the moving averages. The market opens today with a downward trend and it is still falling at the time of writing.
From upside, the nearest level of resistance lies at 2900 SAT, if the bulls can break above this level, further resistance may be found at 3100 SAT and 3200 SAT but if the sellers continue to push the price beneath the current 2830 SAT, the next level of support is located at 2800 SAT and more support is found at 2600 SAT and 2500 SAT. The RSI (14) moves around 49-level as the bears gain control of the market.
Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
The post Ripple Price Prediction: XRP/USD Needs to Recover Above $0.30 appeared first on InsideBitcoins.com.
from InsideBitcoins.com https://insidebitcoins.com/news/ripple-price-prediction-xrp-usd-needs-to-recover-above-0-30/251868
0 Comments