XRP Price Prediction: Ripple eyes deeper losses, as 200-DMA looks at risk

  • XRP price is set to breach the 200-DMA, with a test of May lows likely.
  • Ripple confirmed a symmetrical triangle breakdown on the daily chart.
  • The path of least resistance appears to down despite the tepid bounce.

XRP price is licking its wounds so far this Saturday, having reached the lowest in three months at $0.7691 on Friday.

Bulls are making recovery attempts across the crypto board, with the market sentiment seen improving slightly, in anticipation of the weekend love returning. Bitcoin has recaptured the $36,000 level after falling to just above $35,000 on Friday’s American afternoon.

The no.7 most-traded digital asset is also following a similar price movement. However, the further upside attempts appear elusive, despite the long-dragged SEC V. RIPPLE lawsuit.

The court denied the Securities Exchange Commission’s (SEC) request to search for records of Ripple’s General Counsel and Deputy General Counsel for being privileged communications.

Wednesday’s Fed’s hawkish surprise is likely to have a lasting impact across the asset classes.

XRP price looks south amid symmetrical triangle breakdown

The XRP price confirmed a downside breakout from a month-long symmetrical triangle formation on the daily chart a day before, as the bears yielded a daily closing below the rising trendline support, then at $0.8487.

A bearish break was inevitable, as the price has been forming lower highs on the said time frame.

Further, the Relative Strength Index (RSI) continues to trade listlessly below the midline, backing the downbeat mood around Ripple.

Therefore, a sustained break below Friday’s low at $0.7691 could expose the 200-Daily Moving Average (DMA) at $0.7277.

The May 23 low of $0.6509 could be put to test on a daily closing below the critical 200-DMA support.

XRP/USD: Daily chart

On the upside, the road to recovery could be challenged by the triangle support now resistance at $0.8562.

The buyers will then look to regain the $0.8600 round number, above which the triangle resistance at $0.8869.

A convincing break above the last is likely to invalidate the symmetrical triangle breakdown.

XRP/USD: Additional technical levels to consider


Today last price 0.8010
Today Daily Change 0.0047
Today Daily Change % 0.59
Today daily open 0.7964
Daily SMA20 0.9091
Daily SMA50 1.1486
Daily SMA100 1.0295
Daily SMA200 0.7255
Previous Daily High 0.8446
Previous Daily Low 0.7692
Previous Weekly High 0.9292
Previous Weekly Low 0.7692
Previous Monthly High 1.748
Previous Monthly Low 0.6509
Daily Fibonacci 38.2% 0.798
Daily Fibonacci 61.8% 0.8158
Daily Pivot Point S1 0.7622
Daily Pivot Point S2 0.728
Daily Pivot Point S3 0.6868
Daily Pivot Point R1 0.8376
Daily Pivot Point R2 0.8788
Daily Pivot Point R3 0.913



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

Crypto bulls unfazed by flash crash

Bitcoin price action initially shakes off strong selling pressure, finds buyers at support, then resumes some selling pressure. Ethereum price action mixed post-all-time high rejection. XRP price awaits its own bullish breakout and an opportunity to outperform its peers.

More Cryptocurrencies News

MATIC price ready for new all-time highs as $188 million flow into Polygon

The total number of transactions on Polygon network dropped nearly 15% due to a rise in transaction fees over the past week. This hasn’t negatively impacted the network as the number of unique daily active users remained stable. 

More MATIC News

AVAX price offers a bullish opportunity before Avalanche hits new all-time highs

Avalanche (AVAX) price has seen a bullish outbreak on Thursday after it broke out above – and then retested – the red descending trend line at $61.62. With even more buyers and bulls coming in, expect a run towards new all-time highs at $81.

More AVAX News

XLM price building base for bullish breakout

Stellar bulls are in the last phase of completing a bullish triangle. As XLM price is getting squeezed against the base ($0.40), expect a quick breakout of 12%. After taking a breather, expect another 10% of profits to follow. 

More Stellar News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast