|

Ripple Price Analysis: XRP/USD eyes $0.20 amid broad-based crypto recovery

  • Ripple follows in Bitcoin’s footsteps; tanks under $0.19 before bouncing back up.
  • XRP/USD remains in the hands of the bulls in spite of the drop under $0.20 key support.

Ripple price, for the first time in two weeks broke the support at $0.20. The declines were in tandem with Bitcoin’s rejection from $10,000 to levels close to $9,000. Ethereum also dived from highs close to $250 to test the support at $230. The volatility on Thursday came after a period of consolidation that took more than two weeks, especially for Ripple.

XRP/USD sunk below the expected support at $0.1950 and $0.1900. A weekly low was reached at $0.1846, stopping further losses. Consequently, an immediate recovery ensued sending Ripple above $0.1900. XRP/USD is trading at $0.1923 at the time of writing and dealing with the resistance at the 100-day SMA. A glance further into the north predicts that gains above $0.20 are likely to come easy in the short term; possible before the weekend session.

However, buyers have to brace themselves to tackle the resistance at the descending trendline, the 50-day SMA and $0.21. The technical picture is improving according to the RSI and the MACD. The latter has bounced off the oversold at 30 and continues to move gradually towards the average as a signal for a stronger bullish grip. On the other hand, the MACD shows that buying pressure is present, especially with the stability at the mean line.

XRP/USD daily chart

XRP/USD price chart

Author

John Isige

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

More from John Isige
Share:

Editor's Picks

Solana Price Forecast: Bearish grip tightens on SOL amid broader market sell-off

Solana is down 4% on Friday, extending losses below $80 and marking a nearly 10% decline so far this week. The broader cryptocurrency market is seeing heavy selling, with Bitcoin diving below $70,000 and wiping out more than $1 billion in the derivatives market. This adds to the sell-side dominance in SOL futures amid persistent outflows.

Cardano Price Forecast: On-chain and derivatives weakness point to further ADA downside

Cardano extends losses, trading below $0.169 on Friday, with losses nearing 4% so far this week. Moreover, ADA is heading into its sixth consecutive weekly correction, down more than 30% since early October.

Top 3 Price Predictions: BTC, ETH and XRP extend losses as downside momentum dominates

Bitcoin, Ethereum, and Ripple extend their sell-off on Friday as bearish momentum gathers. BTC breaks below the $70,000 psychological threshold, while ETH loses the $2,000 support level, raising the risk of further losses. Meanwhile, XRP continues to slide as sellers maintain control, threatening a deeper correction toward $1.00.

Hyperliquid gains on centralized exchanges as open interest crosses $18B
Hyperliquid's (HYPE) open interest climbed to a record $18.1 billion in September as the decentralized exchange gained ground against major centralized trading platforms, with its share of combined open interest across eight leading exchanges rising to 11.7% in Q3.
Bitcoin: Bears tighten grip as BTC eyes fifth weekly loss
Bitcoin (BTC) remains under pressure, down over 3% this week, trading near $75,500 on Friday and heading for its fifth straight weekly loss. Persistent outflows from US-listed BTC spot Exchange Traded Funds (ETFs), a sharp sell-off in US technology stocks, and rising market liquidations are weighing on sentiment and limiting Crypto King’s recovery attempts.