XRP Price Analysis: Ripple Rejection From $1.2 Closes In On $1 As More Declines Beckon
- XRP price forced below $1.1 and the 100 SMA following overhead pressure at $1.2.
- The MACD and the RSI emphasize the emergent selling pressure, risking Ripple’s freefall to $1.
Ripple had gradually and with struggle rose to $1.2 during the weekend session. In September, the international money transfer token lost ground to $0.86. The lower prices allowed more buyers to come, thus lifting the token above $1. Bulls have their eyes glued on $1.4, but the barrier at $1.2 and $1.1 currently limit their efforts.
XRP Price Faces Short-term Resistance At the 100 SMA
Ripple trades around $1.09 at the time of writing. This follows a rejection from $1.2, as mentioned. The 100 Simple Moving Average (SMA) emphasizes the immediate resistance. If bulls do not recover above this level, and by extension $1.1, overhead pressure is bound to increase, leading to more losses to $1.
The Moving Average Convergence Divergence (MACD) adds credence to the bearish outlook. A sell signal will likely confirm in the incoming sessions. It will manifest as the 12-day Exponential Moving Average (EMA) crossed below the 26-day EMA. The odds for a further breakdown will soar if the MACD moves to the mean line and crosses into the negative region.
XRP/USD 12-Hour Chart
Note that the Relative Strength Index (RSI) validates the sellers’ grip on Ripple. This technical index follows the trend of the asset and calculates the strength. A continuous downward movement shows that sellers have the upper hand. Traders should be on the lookout for more action under the midline, which will add weight to the pessimistic narrative.
On the upside, Ripple must reclaim the position above the 100 SMA on the 12-hour chart and $1.1 to resume the uptrend. A move such as this will confirm to the investors that the token has what it takes to sustain an uptrend to $1.4 in the near term.
Ripple Intraday Levels
Spot rate: $1.09
Support: $1.05 and the 50 SMA
Resistance: The 100 SMA and $1.2
- Price Analysis
- XRP Price Analysis: Ripple Rejection From $1.2 Closes In On $1 As More Declines Beckon
- This USL Player Receives Part of His Salary in Bitcoin. Says Crypto is Sound Money
- Former UK Chancellor Lord Hammond to Join Crypto Custodian Copper as Senior Adviser
- Bitcoin Price Prediction: BTC Continues Explosion To $60,000 Amid A Whale Buying Spree
- Crypto Crackdown: Bitmain to Stop Shipping Antminers to China This October
- Bitcoin Price Forecast: BTC Heading For $60,000 But Bulls Must Hold $55,000 Supply Zone
Back to the list