XRP predictions this week are not looking good for the token. As of writing, the digital token has been down by 3.13% since the market opened today. The current XRP price is $0.74, and the chances are that it may fall to the bears in the next few days.
XRP/USD touched a daily high at $0.79 before giving a bearish signal and succumbing to the market’s selling pressure. The coin is currently trading within the 9-day and 21-day moving average as it crosses below the 40-level Relative Strength Index (14).
Any bearish movement from this point will likely encourage investors to buy the dip. On the other hand, moving up from this level will result in a positive outswing for the coin. So, it may not look great for the coin, but both scenarios are great for the token.
For now, several analysts think that the bearish movement for XRP is the more likely scenario. With the token down by 3.13% and Ripple flooding exchanges with XRP units, the price recovery for the coin may not come in the next few days. If the price movement continues, a heavy bearish is to be expected.
Meanwhile, the opposite scenario presents these possibilities. A break above the channel’s upper boundary will likely strengthen the bulls and help them try for another rally. If this happens, it will not be farfetched to say that the price will challenge resistances at $0.90, $0.95, and $1.00. However, it needs to be noted that a breakdown at this level will likely push the price between $0.60 and $0.50.
XRP is dancing at the 1755 SAT. if the coin drops below its current value, the market may fall to close support at 1600 SAT and 1500 SAT if the price continues its downtrend. However, considering the quickly developing story of the SEC v. Ripple lawsuit, if it’s true that the company’s win is close, then investors are sure to flock Ripple XRP and push the price back to recovery.