Ripple experiences southbound after claiming its highs at $0.75. Additional surges might wait as the asset touches the support at $0.68.
- Vital resistance levels – $0.9, $1.0 and $1.1
- Vital support levels – $0.6, $0.5 and $0.4.
XRP/USD Daily Chart
XRP-USD appears to correct lows after the asset reached the resistance zone at $0.75. However, as the price looks to worsen, the coin might no longer register explosive gains. Keep in mind that the price didn’t cross over the top border of the price channel. Moreover, XRP/USD might experience more plunges if the crypto drops beneath the support at $0.7.
Ripple has to ensure prices over the top border of the price channel for the asset to register uptrends. However, XRP should maintain the $0.68 support to shift the price actions towards the $0.75 resistance again. Also, buyers should break over the bullish pattern for a massive rally to take the prices over $0.80. Another thing, XRP has to control the ongoing retreat to prevent losses below $0.65. Without that, the asset will annul its recent progress.
Meanwhile, the RSI indicator plunged beneath 65, showing incoming downward movements. Increased bearishness might see the prices crashing beneath the 9-d and 21-d moving averages. That way, XRP/USD might drop towards the supports at $0.6, $0.5, and $0.4. However, if bears take XRP above the price channel, it might hit the resistances at $0.9, $1.0, and $1.1.
Against the leading asset, Bitcoin, Ripples hovers inside the 21-day and 19-day moving averages. With that, magnified selling pressure might see XRP/BTC forming another low. That is because the RSI made a sudden move beneath 50. Meanwhile, traders might witness adverse market moves as the 9-d MA maintains beneath the 21-d MA.
XRP/BTC Daily Chart
Meanwhile, as the crypto seems to follow downtrends, it may break down towards the 1,400 SAT support area and further below. On the other side, with enough bullishness to take XRP over the 21-day and 19-da MAs, the altcoin might move towards the resistance at 2,200 SAT. A move above this level is possible with enough bullish momentum.
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