Ripple Price Prediction: XRP downtrend not over as bears target another 10% drop


  • The price of XRP is currently $0.2385 after a significant breakdown from an ascending triangle.
  • Amid the bearish continuation to $0.23, it seems that XRP has more room to slip even further.

XRP was bounded inside a daily ascending triangle for around one month. On October 28, Ripple's digital asset broke down from the pattern, losing the 50-SMA support level at $0.245 and experiencing a lot of bearish continuation in the next two days.

What is the next price target for XRP after the breakdown?

The breakdown of the daily ascending triangle is significant as the lower trendline was a robust support level, which coincided with the 50-SMA. On top of that, the MACD turned bearish simultaneously and it’s gaining strength, which indicates sellers still have more power. 

xrp price

XRP/USD daily chart

The next potential price target would be $0.2277, where the 200-SMA is currently established. A breakdown from this point can easily drive the price of XRP towards $0.21 using the height of the triangle pattern as a reference. 

xrp price

XRP 1-day and 3-day charts

However, as stated above, the 200-SMA support level at $0.225 on the daily chart will act as a healthy support level, especially considering that the 50-SMA on the 3-day chart coincides with it. Additionally, the 100-SMA at $0.236 on the 3-day chart is not lost yet and will serve as another support point. 

Looking at the other side of the picture

xrp price

XRP/USD 1-hour chart

On the other hand, observing the 1-hour chart, it seems that XRP is close to confirming an uptrend after establishing a higher low at $0.235 compared to $0.231, which gives the bulls some hope. Additionally, the MACD flipped bullish again, which adds up the strength to this theory. The price target of XRP in this range would be the 50-SMA at $0.2429. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

XRP Price Prediction: Ripple can dip to $0.50

A brief technical and on-chain analysis on XRP price. FXStreet's analysts evaluate why Ripple could drop lower. 

More Ripple News

Ethereum price set to break below $3,000 as crypto bloodbath persists

Ethereum price is still under pressure from the red descending trend line. ETH price is set to break $3,018, bringing the price below $3,000. Expect a further continuation to go hand-in-hand with current financial market sentiment.

More Ethereum News

MATIC price to present a buy opportunity before Polygon rallies

Polygon price action is still stuck in an upward trend channel. MATIC’s current level looks a good buy near the lower end of the channel. Expect a return to the middle of the channel or swing to the upper band once global markets turn green again.

More Polygon News

Crypto.com hits two-month lows as selling pressure accelerates

Crypto.com price is within range of its final support zone before it could move into the $0.30 value area. Bears are in control and have been fighting to push CRO lower, but bulls have persisted.

More Crypto.com News

BTC eyes retest of $50,000

Bitcoin price shows a resurgence of retail interest as it bounced off a crucial psychological level. The recent uptrend is preparing a base on a short-term time frame so BTC can kick-start a larger leg-up. Interestingly, on-chain metrics are lining up with the bullish outlook portrayed from a technical perspective. An uptrend now seems inevitable for BTC and, therefore, the larger ecosystem.

Read full analysis

BTC

ETH

XRP