XRP to Possibly Signal More Bullish Movements in the Upcoming Days
LONDON, United Kingdom – Ripple continues to be volatile and dynamic in terms of its price, but things are towards the north now. The XRP’s value hit multiple lows in the past few days, signaling a burst of bearish movements. However, the bulls have the upper hand now as the Ripple is seen trading above the support level of $0.60.
Currently, Ripple is trading at around $0.62, above the support level of $0.60. If the price breaks the $0.65 barrier, then it could signal more bullish movements, possibly touching the resistance levels of $0.80, $0.85, and $0.90. It is possible if the bulls manage to put additional pressure since Ripple is gearing towards going above the nine and 21-day moving averages.
On the other hand, if the bears are the ones to put pressure on, then it could signal more bearish movements, with the possibility of the XRP hitting the critical support of $0.45, $0.40, and $0.35 levels.
Meanwhile, when stacked against Bitcoin, Ripple trades slightly below the nine and 21-day moving averages. It dipped at around 1566 SAT but is making a comeback as it currently trades around 1606 SAT. Same as with dollars, if the bulls push the coin above the nine and 21-day moving averages, then Ripple can break the resistance level of 1700 SAT. However, if sellers gain the upper hand, it could hit the support level of 1450 SAT.
However, Ripple is getting out of the “oversold” region, as indicated by the Relative Strength Index (14). It could signal more bullish movements if it continues.
You would want to always stay updated in terms of the XRP’s movement since you can make no concrete or solid prediction about it because of many factors in play, such as the lawsuit with the SEC and the high volatility of the crypto market.