Ripple Price Prediction: XRP/USD Drops Below $0.60

Ripple Price Prediction – July 23

The Ripple price is down by 0.8% in the last few hours as the current market value is going below $0.60.

XRP/USD Market

Key Levels:

Resistance levels: $0.75, $0.80, $0.85

Support levels: $0.45, $0.40, $0.35

XRP/USD touches the daily high at $0.61 before giving a bearish signal at the time of writing, the coin is trading within the 9-day and 21-day moving averages as the Relative Strength Index (14) stays below 45-level. However, any bearish move below this level could give the market enough strength to dig dip, but crossing above the 21-day moving average might lead the market to the upside.

Ripple Price Prediction: Price May Face the Downside

The Ripple price is showing a sign of weakness across its markets as the market is down by 0.8%, reflecting a price drop in the market and the fall might become heavy if the bearish action continues. Therefore, since the Ripple price is moving bearishly, traders can expect the trend to keep advancing lower if the price action crosses below 9-day MA.

Meanwhile, a break above the upper boundary of the channel could strengthen the bulls and could push the price to the resistance levels of $0.75, $0.80, and $0.85, but a breakdown might lead the market in a bearish scenario where the price may likely reach the supports at $0.45, $0.40, and $0.35.

Against BTC, the Ripple price is hovering below the 9-day and 21-day moving averages. If the bears put more effort, XRP/BTC may create another low. Presently, the technical indicator Relative Strength Index (14) is crossing into the negative side; traders may continue to see a negative move within the channel.

However, the Ripple (XRP) is currently changing at 1814 SAT and if the coin drops below the current value, the market may experience close support at 1500 SAT before breaking to 1400 SAT and below. Moreover, if the price breaks above the upper boundary of the channel; we can then confirm a bull-run for the market, and the nearest resistance level is located at 2200 SAT and above.

Looking to buy or trade Ripple (XRP) now? Invest at eToro!

75% of retail investor accounts lose money when trading CFDs with this provider

Source: https://insidebitcoins.com/news/ripple-price-prediction-xrp-usd-drops-below-0-60