Heavy Resistance Ahead For Ripple’s XRP Price: Analysis
There’s heavy resistance ahead for the Ripple XRP price as the movement took a different route than the top two Bitcoin and Ethereum. Ripple is still among the top three cryptocurrencies and even reported gains over the past 24 hours as we are reading in the following ripple XRP price news.
The Ripple XRP price managed to cross the previous ascending triangle over the past 2 days but was unable to climb above the $0.192 resistance zone that was caused by the bearish 0.618 Fibonacci retracements. XRP is now valued at $0.176 so let’s see the ripple xrp price predictions for the following period. The first resistance is now at the $0.182 level and if the price manages to go above this, the resistance will lie at $0.192 and $0.22.
The relative strength index shows to be going above 50 but it has dropped back down to the mid-level since. This drop-in level shows that the sellers have recovered control and would throw Ripple below the trend line. The ripple xrp price bounced back right away from the previous 2020 lows because of the crypto market crash. XRP took a jump of another 13 percent over the past 3 days and reached 2800 SAT. However, XRP retraced since and went down to the 2710 SAT level. On the other hand, the initial resistance level for the price is established at 2760 SAT while before this, the resistance level was established at 2800 SAT. The next resistance is anticipated at 2850 SAT and 2900 SAT.
The Relative strength index (RSI) shows heavy resistance above the 50-level and shows that the buyers are gaining control over the market momentum. If the Relative Strenght Index manages to stay above the 50-level, the Ripple XRP price will increase again to the 2850 SAT level. The best-case scenario for XRP could be the $0.17 support level and then the demand for this cryptocurrency could increase the price towards $0.21 to meet the target presented on the ascending triangle.
Also, as per the recent news, The lawsuit against XRP and the Ripple CEO originally filed in May 2018 and centered around allegations that Ripple violated the Securities Act through a 2013 initial coin offering (ICO) is now re-activated so we will keep you updated on the situation.
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