XRP Price Analysis – April 5
Ripple price is facing a selling pressure below the $0.182 resistance against the US dollar.
XRP/USD Market
Key Levels:
Resistance levels: $0.210, $0.220, $0.230
Support levels: $0.150, $0.140, $0.130
XRP/USD is slowly declining below key the supports. The Ripple price might revisit the $0.177 support before it could start a fresh increase. After struggling to stay above $0.177, Ripple started a slow and steady decline. The coin traded below the key $0.182 support level to move into a short term bearish zone.
However, XRP/USD is currently changing hands at $0.179 and any attempt to make it cross below the 9-day moving average may open the doors for more downsides and the price could spike below the $0.170 support level. However, we should keep an eye on the $0.175 and $0.160 before creating a new bullish trend at the resistance levels of $0.210, $0.220 and $0.230.
Nevertheless, traders may experience a quick buy once the trade reaches the support at $0.170. And should the price fails to rebound, then a bearish breakout is likely to trigger more selling opportunity for traders, which might cause the price to reach $0.150 and could further drop to $0.140 and $0.130 support levels respectively. The RSI (14) is moving around 50-level. If the price moves downward, Ripple (XRP) may fall further.
When compared with Bitcoin, XRP is currently trading at 2639 SAT and it’s trading under the 9-day moving average. If the above-mentioned level could serve as market support, the price can be pushed up towards the resistance levels of 2700 SAT and 2750 SAT. By reaching these levels, the price may likely visit 2850 SAT and 2950 SAT resistance levels.
However, if the bulls fail to push the price to the nearest resistance, the market may begin another downtrend and the pair could probably record further declines at 2600 SAT. Breaking this level could push the market to the nearest support levels, at 2450 SAT and below. Meanwhile, the RSI (14) is moving in the same direction, which may allow the market to move in sideways for a while.
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