Ripple price was trading below the $0.65 level in the morning. This reveals that XRP has started a slow and steady decline.
Important price levels for Ripple (XRP):
XRP resistance levels: $0.90, $1.00, $1.10
XRP support levels: $0.40, $0.30, $0.20
Ripple Price Prediction
XRP/USD is slowly falling below the 9-day and 21-day moving averages after trading at the daily high of $0.65. According to Ripple price analysis, XRP price could decline again to the $0.50 support level before starting another increase. XRP was struggling to stay above $0.65. Ripple started a slow and steady decline to where it is currently trading at $0.62. XRP can go down to the short-term bearish zone in the current situation.
Outlook could turn negative for XRP
According to the daily chart, Ripple price continues to move sideways as the coin stays below the 9-day and 21-day moving averages. At the time of writing, XRP was trading at $0.62. If there are any attempts to bring XRP down further, it could revisit the nearest $0.50 support level. However, if there are more bearish moves towards the lower boundary of the channel, the price could decline further and slide as low as the $0.40, $0.30, and $0.20 support levels.
When Ripple reaches the support at $0.50, rapid purchases can be seen in the market as a different scenario. XRP could test the $0.90, $1.00 and $1.10 resistance levels if it shows any bullish divergence above the 9-day and 21-day moving averages. However, if the price does not recover, the bearish bias could trigger more selling opportunities for investors. The technical indicator Relative Strength Index (14) is moving in the same direction below the 45 level to increase the downtrends.
In the XRP vs Bitcoin comparison, XRP is currently worth 1860 sats as it is trading below the 9-day and 21-day moving averages. However, if the current 1860 sat level is considered market support, Ripple price could climb above the 9-day and 21-day moving averages. A move above this resistance could cause XRP to reach the 2200 hour resistance level.
Figure 2. BTC XRP price analysis
However, if the bulls fail to push the price up, the market may continue its downward move. Possibly XRP could drop more than 1700 sat. Breaking this level could also push the market to the critical support level of 1500 SAT and below. Meanwhile, the Relative Strength Index-RSI (14) is already below the 40 level to confirm bearish signals.