Here Are the Most Probable Scenarios for XRP in the Coming Days (Ripple Price Analysis)


17 Sep 2023 2:48 PM

Ripple's price has been gradually declining, forming lower highs and lows against both USDT and BTC. Despite this, investors can still be optimistic, as a...

  • Ripple's price has been declining against both USDT and BTC, forming lower highs and lows.
  • Despite this, there is potential for a rebound from nearby support levels.
  • On the daily timeframe against USDT, the 200-day moving average is acting as resistance, preventing the price from rising towards the $0.55 resistance zone.
  • If the 200-day moving average holds, the market is likely to drop to the $0.43 support level in the short term.
  • The RSI indicator shows values below 50%, indicating momentum in favor of sellers and a probable retest of the $0.43 level.
  • Against BTC, XRP has reached a significant support level at the 1800 SAT area, with the 200-day moving average providing crucial support.
  • If this support level breaks down, a subsequent crash would be likely.
  • A short-term rebound would require surpassing the 50-day moving average around the 2000 SAT mark before aiming for higher targets.

The sentiment of the article is cautious, highlighting the potential for a rebound but also the possibility of further decline.

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You May Ask

What is the current trend of Ripple's price against USDT and BTC?What is the role of the 200-day moving average in determining the price movement?What support and resistance levels are mentioned in the article?What indicators suggest the momentum is in favor of sellers?What needs to happen for a short-term rebound in price?

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