XRP/USD Dips Below $1.00 Level
Ripple Price Prediction – September 8
The Ripple price may consolidate as the coin faces the downside, traders may experience more downtrends.
XRP/USD Market
Key Levels:
Resistance levels: $1.35, $1.40, $1.45
Support levels: $0.85, $0.80, $0.75
XRP/USD has been facing a market-wide struggle after sliding below the 9-day and 21-day moving averages yesterday. The coin is likely to stay within this negative side before deciding on the bullish movement. The current movement towards the lower boundary of the channel may create more damages to the coin for touching the support level of $1.01. Following the path of all other coins, Ripple has made a cut of 3.01% in the last 24 hours and the coin is likely to dip below $1.00 support.
Ripple Price Prediction: Ripple Price Ready for Further Downside
At the time of writing, the Ripple price is recovering from the daily low of $1.01 and any attempt to make it cross below this critical level may open the doors for more downsides as the price could hit the support of $0.90. However, traders should keep eye on the $1.25 before creating a new bullish trend around the resistance levels of $1.35, $1.40, and $1.45.
However, should in case the price fails to rebound, there is likely a bearish breakout to trigger more selling opportunities within the market, which might cause the price to retest the support level of $0.90 and could further drop to $0.85, $0.80, and $0.75 support levels. The Relative Strength Index (14) crosses below 50-level suggesting that the crypto may fall more.
When compares with Bitcoin, the Ripple price is seen moving below the 9-day and 21-day moving averages. However, if the selling pressure continues, the Ripple price variation may continue with the bearish movement. At the moment, the Relative Strength Index (14) is sliding towards 50-level; traders may begin to see a negative move in the market if the 9-day MA crosses below the 21-day MA.
However, the Ripple is currently moving towards the lower boundary of the channel at 2391 SAT. We may expect close support at 2000 SAT and below. Therefore, should in case a bullish movement occurs and validates a break above the 9-day and 21-day moving averages; traders may confirm a bullish movement and the nearest resistance level could be found at 2800 SAT and above.
Looking to buy or trade Ripple (XRP) now? Invest at eToro!
67% of retail investor accounts lose money when trading CFDs with this provider
Read more:
