Ripple Price Prediction: Can XRP Continue To Outperform Bitcoin?
October 13 2022 - 1:08AM
NEWSBTC
Ripple struggled to clear the $0.550 resistance against the US
Dollar. XRP price is now moving lower and might drop further
similar to bitcoin. Ripple faced a strong selling interest near the
$0.55 zone against the US dollar. The price is now trading below
$0.500 and the 100 simple moving average (4-hours). There was a
break below a key bullish trend line with support near $0.4940 on
the 4-hours chart of the XRP/USD pair (data source from Kraken).
The pair could decline heavily if there is a clear move below the
$0.4650 support. Ripple’s XRP Price Starts Decline This past week,
ripple’s XRP started a steady increase from the $0.4500 support
zone. There was a clear move above the $0.480 and $0.505 resistance
levels. The price climbed above the $0.520 resistance,
outperforming bitcoin and ethereum’s ether. However, the bulls
failed once again to clear the key $0.550 resistance zone. A high
was formed near $0.5486 and the price started a fresh decline. XRP
price declined below the $0.52 and $0.50 support levels. There was
a move below the 50% Fib retracement level of the upward move from
the $0.4417 swing low to $0.5486 high. Besides, there was a break
below a key bullish trend line with support near $0.4940 on the
4-hours chart of the XRP/USD pair. The price is now trading below
$0.500 and the 100 simple moving average (4-hours).’ Source: XRPUSD
on TradingView.com On the upside, the price is facing resistance
near the $0.4825 level. The first major resistance is near the
$0.500 zone. A successful break above the $0.50 and $0.505
resistance levels could spark another rally. The next key
resistance is near the $0.520 level, above which the bulls are
likely to aim a retest of the $0.55 barrier. Downside Break in XRP?
If ripple fails to start a fresh increase above the $0.50 level, it
could continue to move down. An initial support on the downside is
near the $0.465 level. It is near the 61.8% Fib retracement level
of the upward move from the $0.4417 swing low to $0.5486 high. If
there is a downside break and close below the $0.465 level, xrp
price could start a major decline. In the stated case, the price is
likely to drop towards the $0.42 support. Technical Indicators
4-Hours MACD – The MACD for XRP/USD is now gaining pace in the
bearish zone. 4-Hours RSI (Relative Strength Index) – The RSI for
XRP/USD is now below the 50 level. Major Support Levels – $0.465,
$0.42 and $0.405. Major Resistance Levels – $0.485, $0.505 and
$0.550.
Ripple (COIN:XRPUSD)
Historical Stock Chart
From Sep 2024 to Oct 2024
Ripple (COIN:XRPUSD)
Historical Stock Chart
From Oct 2023 to Oct 2024