Ripple Price Prediction – July 29
The Ripple price faces the south after reaching $0.75 high, further increases may hold as the coin touches $0.68 support.
XRP/USD Market
Key Levels:
Resistance levels: $0.90, $1.00, $1.10
Support levels: $0.55, $0.45, $0.35
XRP/USD is seen to correct down after reaching the resistance at $0.75. However, given the sharp aggravation in price action, a breakout may no longer be explosive for the coin as the price has not crossed above the upper boundary of the channel. Additionally, XRP/USD could fall more if the price drops below the $0.70 support level.
Ripple Price Prediction: Ripple Price May Advance Further
The Ripple price is expected to cross above the upper boundary of the channel to keep the uptrends. Meanwhile, the first is to hold onto the support at $0.68 as this may help shift the attention back to $0.75 resistance. Secondly, buyers need to focus their effort on breaking above the bullish flag pattern in anticipation of a rally massive enough to boost action above $0.80. Thirdly, the ongoing retreat from the upper boundary of the channel must be controlled to ensure that losses under $0.65 do not nullify the progress made in the last few days.
However, the technical indicator Relative Strength Index (14) nosedives below 65-level, indicating a downward movement for the coin. However, if bears drag the current movement and push the price below the 9-day and 21-day moving averages; Meanwhile, XRP/USD could find its low at the support levels of $0.55, $0.45, and $0.35 respectively. Nevertheless, if the price breaks above the channel, it may likely hit the resistance levels of $0.90, $1.00, and $1.10.
Against Bitcoin, the Ripple price is hovering within the 9-day and 21-day moving averages. Therefore, if the selling pressure comes back into the market, XRP/BTC may likely create a new low as the technical indicator Relative Strength Index (14) makes a quick turn below 50-level; traders may experience a negative move in the market as the 9-day MA remains below the 21-day MA.
However, as the coin keeps following the downtrend, it could break to the downside to reach the support level of 1400 SAT and below. On the other hand, if there is a bullish cross above the 9-day and 21-day moving averages, the coin may reach the potential resistance level at 2200 SAT and above.
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