Ripple price has been bearish for the past few weeks as it failed to continue its upward momentum. Looking at the technical charts, more downside is likely in the short term.
Ripple Price Analysis: Technical
USDT Pairs Chart
By Edris Derakhshi (TradingRage)
Against USDT, XRP price recently fell below the $0.6 level and the 200-day moving average, which is located around $0.55.
With the RSI also showing values below 50%, the momentum is clearly bearish. The market is likely to fall towards the $0.5 support level in the coming days and even lower towards the $0.43 support zone if the $0.5 level is broken.
BTC Pairs Chart
The XRP/BTC chart shows similar behavior, as the price has fallen below the 850 SAT support level and the 200-day moving average, which is located around the same price.
Therefore, a further decline towards the 600 SAT area can be expected if the market does not rise above the 200-day moving average soon.
Meanwhile, the RSI reached oversold territory, which could indicate a potential bullish reversal or consolidation in the short term.
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Cryptocurrency charts by TradingView.