Is XRP About to Explode Like Bitcoin or is a Correction Coming? (Ripple Price Analysis)

Ripple’s price has been moving sideways against USDT while plunging against BTC. Things are looking interesting on both charts at the moment.

Technical Analysis

By TradingRage

XRP/USDT Price Analysis

Against USDT, the XRP price has been consolidating above the $0.6 support level, failing to either break below or rebound to the upside. The relative strength index has also been hovering around the 50% mark, indicating that the momentum is neither bullish nor bearish.

In case a bearish breakout occurs, the 200-day moving average is available to provide support around the $0.55 mark. On the other hand, a bullish rebound would likely result in a rally toward the $0.7 resistance level.

Source: TradingView

XRP/BTC Price Analysis

Against BTC, the price has been bearish, breaking below multiple support levels since failing to keep above the 200-day moving average, located around the 1,900 SAT mark. Currently, the price is dropping aggressively toward the 1,250 SAT support level, which could be the buyers’ last resort.

Yet, with the relative strength index entering the oversold territory, a bullish pullback to the 1,600 SAT level also seems likely in the near future before the price reaches the 1,250 SAT area.

Source: TradingView

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Cryptocurrency charts by TradingView.

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