Ripple Price Prediction – February 24
The Ripple price is facing the south as further downside may likely reach the critical support level at $0.60.
XRP/USD Market
Key Levels:
Resistance levels: $0.85, $0.90, $0.95
Support levels: $0.50, $0.45, $0.40
XRP/USD is seen sliding below the 9-day and 21-day moving averages as the coin prepares to create more lows before it could start another increase. After struggling to touch the $0.70 high today, the Ripple price begins a slow and steady decline towards the south. Therefore, as the coin faces another fresh bearish movement, it may target the key support at $0.60 and the price could move into a long-term bearish zone.
Ripple Price Prediction: Ripple Price Ready for More Downs
At the time of writing, the Ripple price is currently exchanging hands at $0.65 and any attempt to remain below the 9-day and 21-day moving averages may likely bring it towards the lower boundary of the channel. However, traders may experience a quick buy if the trade reaches the support at $0.60 but traders should keep their eyes on the resistance levels of $0.85, $0.90, and $0.95.
Moreover, if the price fails to rebound, a bearish breakout is likely to trigger more selling opportunities for traders, which might cause the price to retest $0.55 and could further drop to $0.50, $0.45, and $0.40 support levels. The technical indicator Relative Strength Index (14) is moving to cross below 40-level and if the signal line moves downward, the coin may fall more.
Against Bitcoin, the Ripple price is seen moving down as the coin stays below the 9-day and 21-day moving averages. However, if a rebound plays out, the Ripple price may face an upward trend and the bullish movement could take the coin to the resistance level of 2100 SAT and above.
However, if the bulls failed to hold the bearish movement, the coin may likely fall towards the lower boundary of the channel, and the nearest support level could be located at 1600 SAT and below. On the contrary, the technical indicator Relative Strength Index (14) is likely to cross below 50-level, to indicate additional bearish movement.
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