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Analysts Expect An Important Movement in Ripple (XRP)

Kriptokoin.com – The second-largest subcoin ripple (XRP) is having a hard time maintaining a price higher than $ 0.40 against the US dollar, and analysts say it is falling sharply against Bitcoin. Analysts say the XRP price may reconsider its support of $ 0.38 before a reasonable recovery.

XRP / USD market analysis

Resistance levels: $ 0.44, $ 0.46, $ 0.48.
Support levels: $ 0.25, $ 0.23, $ 0.21.

The XRP traded below $ 0.35 and even tested its support level for close to $ 0.31, and is currently trying to get out of the narrow price of $ 0.32. According to analysts, the ripple price may still take some time to fully recover from the downside, as the price is still below $ 0.35 and the 50-day moving average.

XRP / USD chart

Moreover, according to analysts, a significant cross on the channel can protect bulls up to $ 0.35 and $ 0.38. Meanwhile, Ripple is currently in a downward trend, and analysts say this trend may probably continue. If the XRP manages to rise above $ 0.35, the price could see resistance at $ 0.44, $ 0.46 and $ 0.48. However, a decline may go up to support levels of $ 0.25, $ 0.23, and $ 0.21, according to analysts. Both the Stochastic RSI and the RSI (14) indicators provide bearish signals.

XRP / BTC market analysis

Ripple has been declining for more than a month. Since the start of the year, the XRP / BTC value is still at its lowest level and has not seen a significant increase among the top 20 crypto currencies as shown in the 4-hour RSI. According to analysts, a downward wave that maintains the channel trend may probably push the price up to the nearest support level at 1500SAT and 1200SAT.

XRP / BTC daily chart

Meanwhile, according to analysts, a jump can show great resistance at 4000SAT and break the upper channel. According to analysts, the 4-hour Stochastic RSI should then flow upwards. A significant breach above the channel may turn the XRP trend up, according to analysts. The next major resistance levels are 4500SAT and 5000SAT. According to analysts at present, it seems likely to reverse.

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