As of writing, XRP predictions reveal that the coin is down 0.35%. This may not be a huge margin, but if the coin continues to drop with the current market, XRP will struggle. With the crypto market value dropping below usual moving averages, the recovery of digital tokens will not come soon.
Like any other crypto, XRP is currently giving a bearing signal. Today, the coin opened at $0.72. The technical indicator Relative Strength Index remains below 50-level. If the bearish movement continues its downswing, hitting the channel’s lower boundary could push the XRP price to another low. On the other hand, a slight recovery from this level will continue the coin’s recent bullish movement.
According to the daily charts, The XRP price also shows signs of weakness as the whole crypto market experiences a drop. If the situation persists, this will signal a massive bearish movement for every digital token, including Ripple’s XRP.
On the other hand, a break above the channel’s upper boundary will likely strengthen the bulls and push them to go for another rally. In this scenario, the bulls could push for an upswing again, like what they did last week, where the XRP saw a 10% gain due to their efforts. If this happens, the token will challenge the resistance levels at $0.90, $0.95, and $1.00.
As of writing, Ripple’s native token is struggling to go against the massive selling pressure the market is experiencing. For now, the XRP is hovering above the 1900 SAT, and if the trend continues, traders will expect to close at the next support at 1700 SAT.
The XRP is moving along with the cryptocurrency market’s trend. But, unlike other coins. XRP has a saving grace it can look towards. If the SEC v. Ripple lawsuit concludes and the company wins, the token will likely see a bullish burst.
For now, only time can tell how things will progress.