XRP Price Prediction: Ripple stalled out below $1.14, fall awaits

XRP price action on the 4-hour chart suggests a continuation down. However, Ripple sees some bullish price action that could play out going into tomorrow’s trading session. 

XRP price can move to $1.15, then down to $0.84

All three oscillator levels for XRP are incredibly oversold. 

The Relative Strength Index (RSI) has bounced off the midpoint between the two oversold conditions in a bear market (20 and 30). The Composite Index has also experienced a strong bounce – note that the current low of the Composite Index is the lowest low for 2021 on the 4-hour chart. This could be a leading indicator of further downside pressure. 

Finally, the OPTEX Bands line reached the ultimate low, and a strong responsive bounce continued. 

The upswing is likely to generate some carry-through momentum for XRP toward the $1.14 to $1.17 value areas where the Tenkan-Sen ($1.14) and Kijun-Sen ($1.17) reside.

In that event, XRP will likely have its RSI trading at one of the overbought levels in a bear market (55 or 65). The OPTEX Bands, likewise, will be trading at the overbought level. 

XRP/USD 4-hour Chart

Whether XRP price moves to the $1.17 value area or remains near the $1.10 level, bears should watch for a continuation move south that will accelerate if XRP breaks below the most recent swing low at $1.01. The target zone for bears is a confluence zone of the 38.2% Fibonacci retracement and 100% Fibonacci expansion level – both at $0.84.

Bears will want to watch out for any increase in the number of XRP bulls that are keen on triggering a bear trap. A return to $1.22 will place XRP price back into a strong bullish condition within the Ichimoku system.