Ripple price has shown an upward trend in recent weeks, gradually rising towards a key resistance level. However, there is a possibility of another breakdown if the price fails to break above this area.
USDT Paired Chart
Against the US dollar, XRP has risen steadily after the major collapse in August. It is currently trading within a narrow range between the 50-day and 200-day moving averages, around the $0.5 mark. If there is a bullish breakout, the market may reach the crucial resistance area at $0.55, which will likely determine the market’s medium-term direction.
A successful break above this area would pave the way for the price to rise towards the $0.9 level again. On the other hand, a rejection could have serious consequences, which could cause the market to fall to the $0.4 level or lower.
Paired BTC chart
Against Bitcoin, Ripple paints a different picture. The price of XRP has been moving sideways in recent weeks, trading below the 50-day and 200-day moving averages, which are located around the 1900 SAT mark.
The Relative Strength Index has also fallen below the 50% threshold, indicating that the momentum is currently in favor of the sellers. The 1800 SAT support level is the only barrier preventing another crash towards the 1600 SAT area. Investors should hope that this level will cause XRP to rise.
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Cryptocurrency charts By TradingView.