XRP Price Prediction: No point in trading Ripple until one of these two things happen
- XRP price continues to remain subdued by the $0.381 hurdle with no signs of breaking out.
- Ripple will not see sizeable moves as long as it consolidates between the $0.381 and $0.359 barriers
- A daily candlestick close above $0.381 that flips this level into a support floor will invalidate the bearish thesis.
XRP price remains extremely range-bound due to a lack of volatility and the presence of multiple stable barriers. A big move for Ripple will occur if it shatters the immediate support and resistance levels enveloping it.
XRP price bores investors
XRP price remains between the $0.381 and $0.359 range boundaries and as long as it does, it will consolidate with no directional bias. A move out of these levels, however, could result in an extended downswing or an upswing.
For now, the odds seem to be skewed in favor of bears, particularly when considering the outlook for Bitcoin price. Hence, a daily candlestick close below the $0.359 support level could knock XRP price down to $0.340, which is a stable foothold.
While buyers might come to the rescue here, the odds of recovery are much better after a sweep of the equal lows at $0.326. Collecting the sell-stop liquidity resting below this level could trigger a quick shift in momentum from bears to bulls.
Therefore, investors can expect a 12% downswing for the remittance token should the $0.359 support level break.
XRP/USDT 1-day chart
While things are looking gloomy for XRP price, a daily candlestick close above $0.381 that flips this level into a support floor will be the first sign of buyers stepping in. In such a case, investors can expect Ripple bulls to push the altcoin to retest the next hurdle at $0.439.
Author
Akash Girimath
FXStreet
Akash Girimath is a Mechanical Engineer interested in the chaos of the financial markets. Trying to make sense of this convoluted yet fascinating space, he switched his engineering job to become a crypto reporter and analyst.
