|

XRP Price Prediction: Ripple rebound may be short-lived

  • XRP price was able to rebound after a steep correction.
  • Now, Ripple must slice through the 200 twelve-hour moving average to advance further. 
  • Failing to break through this resistance barrier could see XRP retrace to $0.566.

XRP price kicked off Monday with a bang. The cross-border remittances token jumped by more than 10% since the daily open. Still, it faces stiff resistance ahead.

XRP price eyes a quick bounce amid mounting pressure

XRP price has sparked a minor uptick after bouncing off the $0.793 support level.

While a further run-up seems likely, the supply zone extending from $0.90 to $1.178 can hinder the move. The 200 twelve-hour moving average at $0.927 could also be a deterrent of the upward price action. 

XRP price would have to clear this crucial resistance barrier for an uptrend to establish itself. If so, investors can expect Ripple to surge by another 25% to $1.02 before it takes a u-turn.

XRP/USDt 12-hour chart

XRP/USDt 12-hour chart

It is worth noting that the $0.639 support level must hold for XRP price to jump. Failing to hold above this crucial price barrier will invalidate the short-term optimistic outlook. In that case, Ripple could slide by 12% toward $0.566.

Author

FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

More from FXStreet Team
Share:

Editor's Picks

Cardano Price Forecast: Weak momentum puts ADA recovery at risk

Cardano is trading below $0.222 on Thursday after failing to sustain gains above the 50-day Exponential Moving Average near $0.228 the previous day. Weakening derivatives metrics and fading bullish momentum continue to weigh on sentiment, while a break below the 100-day EMA could push ADA lower. Derivatives data shows a cautious outlook for Cardano.

Ripple and Stellar outlook: XRP and XLM recovery stalls below EMAs

Ripple and Stellar remain under pressure on Thursday as both struggle to sustain their recent recovery attempts. XRP trades below $1.36, while XLM slips beneath $0.183, as mixed derivatives metrics, weakening momentum indicators and heating market conditions suggest cautious market sentiment. Derivatives data shows weakening conditions for Ripple and Stellar.

Zcash Price Forecast: ZEC reclaims $1,300 as ETF inflow hits 30-day high

Zcash price hovers above $1,300 on Thursday, sustaining its 15% gains so far this week with three straight days of recovery. Institutional and retail appeal is returning, with over $15 million in inflows recorded on Wednesday and ZEC futures Open Interest rising to a 30-day high of $2.89 billion. The technical outlook for ZEC indicates an upside bias as recovery gains traction.

Bitcoin derivatives improve, but $87,000 sell wall looms
Bitcoin (BTC) showed signs of recovery on Wednesday as derivatives positioning improved, but sell risk grew between $86,500 and $87,500, where sell orders and leveraged liquidation clusters could limit further gains.
Bitcoin: Macroeconomic headwinds, cooling demand cap BTC gains
Bitcoin (BTC) extends losses this week, trading below $82,500 as of Friday as selling pressure continues. Weakening institutional demand supports this pullback as BTC spot Exchange-Traded Funds (ETFs) are on track to record a two-week withdrawal streak, reaching $146.19 million in net outflows through Thursday.