Ripple Price Prediction: XRP slips below a critical support level targeting $0.21


  • XRP is trading at $0.245 below the lower trendline of an ascending channel formed on the daily chart.
  • The digital asset is at risk of falling towards $0.21 if bulls can’t defend the critical support level at $0.248.

XRP attempted to break out of an ascending triangle on October 22 but failed. The fakeout led the digital asset into a period of correction for the next five days, losing the 100-SMA as a support level.

XRP can fall to $0.21 if this support level is lost

On the daily chart, the most critical support level is established at $0.248, the lower boundary of the ascending triangle pattern. The current price of XRP is below at $0.2451, which means bulls are at risk of losing the support level.

xrp price

XRP/USD daily chart

Additionally, the MACD just turned bearish for the first time since October 16. Using the height of the ascending triangle we can determine the potential bearish price target to be at around $0.21. 

The only chance for XRP to survive is to defend $0.248

On the other hand, if the bulls can defend the support level at $0.248 and close above it, it will simply be considered a re-test of the lower boundary. The last time the MACD turned bearish, the sellers didn’t see much follow-through.

Furthermore, the 50-SMA is currently acting as a strong support level at $0.245. XRP could jump towards $0.26, the upper trendline of the pattern. A breakout above this point would drive the digital asset towards $0.30. 

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.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

XRP Price Forecast: Ripple could be on the verge of a breakout to $0.40

After losing more than 60% of its value in December 2020, XRP has been trading sideways without much action throughout 2021. The SEC has sued Ripple alleging that it conducted illegal sales of XRP which they consider a security.

More Ripple News

Bitcoin price shows ambiguity as a 30% move is underway according to technicals

Bitcoin has been trading inside a tight range after establishing a new all-time high at $41,950. The digital asset plummeted down to $30,420 and then formed a lower high at $40,100 followed by what seems to be a higher low at $33,850. 

More Bitcoin News

XLM Price Prediction: Stellar awaits a massive breakout but remains inside a no-trade zone

XLM has continued to trade sideways since we last reported about it. The digital asset remains locked inside a tightening range which will eventually burst. Let’s analyze some of the most important indicators to understand the most likely scenario.

More Stellar Lumens News

Ethereum Price Analysis: ETH bulls facing an uphill task inside short-term triangle

ETH/USD steps back from short-term resistance while declining to $1,256 during early Tuesday. In addition to easing from the immediate triangle’s upper line, Ethereum also drops from a three day high by press time. Monthly top, one-week-old ascending trend line favor bulls.

More Ethereum News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: BTC price faces extreme volatility ahead of a new all-time high

Bitcoin had a wild run this week, dropping from a high of $41,350 to a low of 30,420 in less than 48 hours. 

Read the weekly forecast

BTC

ETH

XRP