- Ripple price moves down with the market.
- Ripple looks grim in the days to come.
- Ripple facing strong resistance at $0.235.
The Ripple price was observed varying near $0.232 on the 22nd of September. Previously, the cryptocurrency observed a similar trading pattern after it turned bearish on the 21st of September.
1-Day Ripple price analysis
The XRP price was observed at $0.231 US Dollars at the time of writing on Bitstamp. The cryptocurrency rose to a day’s high of $0.235 at 13:38 GMT on the 23rd of September.
Ripple to turn bearish next?
The Trading View anlayst YM group believes that the XRP price will fall below the $0.22 mark soon. The analyst drew a similar idea for the previous day.
On the 21st of September, the XRP price line fell towards the support at $0.229. The analyst has suggested that the XRPUSD pair will see further decline towards the $0.22 mark, where it will confirm a support level between the $0.215 and $0.22 levels. In order for this idea to come into play, the cryptocurrency’s price trajectory is required to break below the $0.229 support.
XRP price to see a breakout soon?
The Trading View anlayst Xhristie is of the opinion that the XRP price will break above a descending triangle pattern and move past the $0.8 mark in the long-term trade.
Per the chart, the cryptocurrency has been trading inside this descending triangle for over 2 years now. The price is supported by a descending trend line. The analyst drew their cryptoanalysis of the XRPUSD trading pair on its 1-week chart. Per the analysis, the cryptocurrency’s price will fall to a triangle pattern that’s below the current one, which will then allow the price to rise bounce back and rise towards the descending resistance of the bigger triangle above.
For this idea to come into play, XRP is required to have an adequate amount of break-through momentum so that it can move above this descending triangle pattern and rise towards $0.8.
What’s next for XRP price?
The Trading View analyst Omayaid is of the opinion that the XRP price line will soon rise towards the $0.32 mark. The analyst drew their technical analysis of the XRPUSD pair on its 4-hour chart.
Per the analyst, the price will soon bounce from the current support level that it is traveling above. The next resistance marked in the chart above lies near $0.32, which is also where the analyst expects XRP price to test next. The Relative Strength Index (RSI) has recently returned from the oversold region. The coin appeared oversold over the past two days on the 4-hour chart. Currently, the RSI closed near 30.00.
The Moving Average Convergence Divergence (MACD) line is moving towards the signal line which lies above it on the negative side of the scale. The histogram size is also decreasing in the negative region. All of these signs indicate a bullish momentum.
Ripple price technical indicators
The Relative Strength Index (RSI) was observed at 51.66 at the time of writing on the 1-hour chart for the XRPUSD pair. The RSI stooped to a low of 16.32 near 15:30 GMT. This means that the cryptocurrency appeared oversold at the time. The Bollinger Bands showed increased price volatility during this time as well.
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