Ripple Price Prediction – May 18
The Ripple (XRP) is having two straight bullish sessions as the market price remains at the upside.
Resistance levels: $2.00, $2.20, $2.40
Support levels: $1.00, $0.80, $0.60
XRP/USD settles above $1.50 as bulls look forward to stroking past the stubborn resistance at $1.60. At the time of writing, the Ripple price is hovering at $1.55 after touching the daily high of $1.72. Therefore, a building bullish momentum suggests that the Ripple price may continue to push to the upside towards $1.80 critical resistance. Meanwhile, XRP/USD bulls have stayed in control for two straight days as the price has gone up from $1.42 to $1.72 during the European session.
Ripple Price Prediction: Where is XRP Price Going Next?
From a technical point of view, the Ripple price is currently in the hands of the bulls as observed using the technical indicator Relative Strength Index (14), the signal line is pointing upwards after finding support at 45-level. The Ripple (XRP) is making it above the 9-day and 21-day moving averages and has the potential to cross above 60-level. However, as the technical indicator keeps moving upward, the bullish grip may continue to strengthen.
For now, XRP/USD trades at the apex of a symmetrical triangle. This pattern has both bearish and bullish momentum as the two trend lines form the symmetrical triangle that connects successive peaks and troughs. However, when trend lines converge, the coin tends to consolidate. The nearest resistance for the market is located at $2.00, $2.20, and $2.40.
However, as it appeared on the daily chart, there’s no sign of a decisive movement at the moment. However, if the $1.40 support gets weak, a price breakdown may occur as the bears could create a new low at $1.00, $0.80, and $0.60 support levels.
When compares with Bitcoin, the pair is trending upward, trading above the 9-day and 21-day moving averages. However, the buyers are keeping the market price above the 9-day and 21-day moving averages so as to take it to the resistance level of 4300 SAT and above.
On the other hand, if bulls failed to push the price upward, the Ripple price may begin another downtrend which could take the coin to the nearest support level at 2800 SAT and below. Meanwhile, the technical indicator Relative Strength Index (14) is seen moving into the overbought region, which indicates more bullish signals into the market.