XRP Falls and Trades at $1.05 – Analysts Predict It Might Have a Big Move
California, USA – XRP fails to trades at $1.27 in the previous week. Now, it trades at $1.05 but crypto analysts think it might experience a big move in the next days.
XRP has been performing up and down in the past days since August 15. The price struggled to regain its position after reaching $1.50. This crypto couldn’t stay over the purple decreasing trend line. From the trading price of $1.16, it even traded lower at $1.05.
The price rebounded the last weekend, but the crypto can’t break the upper zone at $1.20. It dropped under the 20-day MA or Moving Average as it drops further. On the other hand, analysts think that a breakout is still possible.
As for the XRP/USD pair, the support is at $1.10, and it followed the prices of $1.05, $1.00, and $0.928. The resistance lies at $1.15 for the 20-day MA, and the prices $1.27, $1.36, $1.49, and $1.61 follow it.
The Related Strength Index or RSI stays over the mid-line, indicating a weak bullish trend in the market. There’s a break under the midline, and it might push the crypto under the triangle back to $1.
XRP/BTC also continues to trade lower since it reached the 2730 SAT-resistance level. The altcoin found its support at 2290 SAT, where it rebounded. However, XRP didn’t succeed in overcoming the upper zone, and it began to drop further. It tries to stay at the support level around 2300 SAT while the buyers search for a chance for this crypto to break out on the upside.
As a prediction, short-term buyers might push the XRP price back up, but the blue decreasing trend line is too heavy to overcome. Sellers will drive into short positions, and it will try to break over $1.05.
The price might drop to $0.88 where the SMA or Simple Moving Average is 55-day and 200-day. However, buyers might be happier to get the price down to these levels.