The market price of XRP at the time of writing is $0.740382 USD, with a 24-hour trading volume of $2,228,234,303 USD, and it is down 3.52 percent in the last 24 hours. Ripple (XRP) Investors’ hesitation is reflected in today’s price action. XRP is now trading in a fairly narrow range of $0.74-$0.78. It appears that the asset is awaiting confirmation before placing additional directional bets. Let’s take a look at Ripple (XRP) Price Prediction and technical movement.
Ripple (XRP) Price Prediction
Bears are being helped by the strength of the dollar, which is impacting on price movement for the second day in a row. With the current tensions in Ukraine and the possibility of Russian reprisal against the West, safe havens are universally bid, with the Greenback on the front foot and so outperforming XRP’s valuation, resulting in a move lower.
Furthermore, XRP forms a ‘Symmetrical triangle’ on the daily chart, and with the aforementioned indicators readings, there is a significant likelihood of an upper breakout with the immediate objective at the critical 200-day Exponential Moving Average (EMA) at $0.85.
Technical Indicators for XRP :
Resistance levels: $0.90, $0.95, $1.00
Support levels: $0.60, $0.55, $0.50
Expect the XRP price to accelerate after the monthly pivot at $0.76 is breached. With little in the way, the path to $0.62 is open, with $0.70 and $0.68 as prospective breaking points where bears could see some profit-taking and bulls attempting to halt the slide.
In comparison to Bitcoin, the Ripple price remains below the 9-day and 21-day moving averages. As a result, if the bears exert further pressure on the coin, XRP/BTC could make another bottom by touching the nearest support at 1700 SAT. Now that the technical indicator Relative Strength Index (14) has crossed above the 40-level, traders may continue to observe a negative move within the channel if it falls below this level.
However, the Ripple (XRP) is now changing at 1755 SAT, and if the coin falls below this level, the market may find close support around 1600 SAT before falling to 1500 SAT and below. Traders can validate a bull-run for the market if the Ripple price moves and crosses over the upper boundary of the channel located at 2100 SAT.
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