Ripple Price Prediction – October 16

The Ripple price renews the upward movement after testing the support level of $1.10.

XRP/USD Market

Key Levels:

Resistance levels: $1.35, $1.40, $1.45

Support levels: $0.95, $0.90, $0.85

Ripple Price Prediction
XRPUSD – Daily Chart

At the time of writing, XRP/USD is seen trading above the 9-day and 21-day moving averages as the sixth-largest cryptocurrency by market capitalization has on several occasions been able to remain above the 9-day and 21-day moving averages. A few days ago, a monthly high was touched at $1.25 which has been causing the coin to move sideways and this could pave the way for another gain above $1.254.

Ripple Price Prediction: Ripple (XRP) May Continue to Consolidate

The Ripple price is making another recovery process towards the $1.20 resistance level as the initial break above the 9-day moving average could boost the price farther up. However, the Ripple (XRP) hit a daily high of $1.20 before retreating back to where it is currently trading at $1.15. Meanwhile, from above, more hurdles may come into play if the bulls push the coin towards the upper boundary of the channel as the nearest resistance level may be found at $1.30.

However, the short-term trend remains in the hands of the bulls supported by the technical indicator where the Relative Strength Index (14) is almost crossing above 60-level, building on the consistent recovery from the downside. More so, the Ripple’s bullish scenario is emphasized by the RSI (14) as it could extend the action above 60-level. Nevertheless, a break above $1.30 resistance level may likely push the coin towards the potential $1.35, $1.40, and $1.45 resistance levels while a break below the lower boundary of the channel may lead to the supports to $0.95, $0.90, and $0.85 respectively.

Against Bitcoin, the Ripple price is consolidating to the downside and moving below the 9-day and 21-day moving averages. Meanwhile, the bulls have been trying to push the price towards the upside and breaking above the moving averages may likely take it to the resistance level of 2100 SAT and above.

XRPBTC – Daily Chart

In other words, if the coin decides to follow the downtrend, then it may likely hit the critical support at 1700 SAT and below if crosses below the lower boundary of the channel. Meanwhile, the technical indicator Relative Strength index (14) is moving below 35-level, suggesting bearish signals.

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