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Ripple Price Prediction: XRP/USD Pick Up Pace; Reclaims $1.50 Resistance Level

Published on

April 29, 2021

XRP Price Prediction – April 27

The bulls aim the next resistance at $1.50 and should in case they fail; sellers’ rejection at $1.29 might take XRP to retest $1.00 support.

XRP/USD Market

Key Levels:

Resistance levels: $1.75, $1.95, $2.15
Support levels: $1.00, $0.80, $0.60

XRP/USD manages to reach a high of around $1.50 as the market opens today. A few weeks ago, Ripple was seen trading at the downside of the channel before starting the upward movement yesterday. Meanwhile, the bullish trend today allows XRP/USD to climb back above $1.45 resistance. More so, this bounce above the 9-day and 21-day moving averages shows that buyers are still attempting to be in control of the market momentum.

What to Expect from Ripple (XRP)

If the XRP bulls want to see a shift in momentum, they will need to keep the price above the moving averages and then convert the 9-day moving average into a support level. Therefore, the coin may continue to trade upwards until it creates a bull cross above the upper boundary of the channel. Moreover, a bullish breakout above $1.65 could take XRP up to the potential resistance levels of $1.75, $1.95, and $2.15 as the RSI (14) moves to cross above the 60-level.

According to the daily chart, XRP/USD is trading at $1.41 after holding above $1.50. On the other hand, a drop beneath the moving averages may cause the Ripple price to spiral downward and head beneath the lower boundary of the channel. Meanwhile, the local support may be created on approach to $1.20. If it is broken, the sell-off may be extended to critical supports at $1.00, $0.80, and psychological $0.60 respectively.

Against Bitcoin, for the past few weeks, Ripple (XRP) has been falling drastically and now trading above the moving averages as the bulls are back into the market. If the buyers continue to push the price up, the next resistance level may be located at 2800 SAT and further resistance may be found at 3000 SAT and 3200 SAT respectively.

However, If the 9-day moving averages crosses below the 21-day moving average, bears may push the price towards the downside and traders may expect the price-fall to 2000 SAT and 1800 SAT support levels. Meanwhile, the RSI (14) faces the north as the signal line remains above 60-level, indicating an upward movement.

Lydian
Last Updated : April 29, 2021

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