• Ripple price sees the floor underpinned at $0.6265 for two technical reasons.
  • XRP price set to bounce back firmly as dollar backs off. 
  • Expect, with tail risks being paused, to see a sharp move up over the weekend to $0.7850.

Ripple (XRP) price could not recover from the massive drop on Monday and Tuesday. XRP price is currently looking for support at $0.6264, where it could easily fall to, as the Relative Strength Index (RSI) is flatlining and trading in the oversold area. This limits further downside momentum for bears and will trigger a pullback to reset the RSI back to more balanced levels, resulting in XRP price popping 15% and hitting the 55-day Simple Moving Average (SMA).

XRP price set to use paused tail risks with an eased dollar to regain some ground

Ripple price is set to pop higher over the weekend as, during the trading week, too many tail risks and noise in global markets make it almost impossible for bulls to recover from the incurred setback on Monday and Tuesday. With that move, XRP price is seeking support again at $0.6264, a historic pivotal level playing its role for the third time since March. With the RSI in the oversold area, it looks like the party is over for bears for now, and XRP price will see profit-taking from that side, with buy-side volume picking up. 

XRP price will jump higher, with the first stop towards $0.73, which could come as the dollar weakens, a factor that should pull XRP price up even if bulls are not buying massively.. Some tail risk are also  set to come from earnings in the US this week, which will die down during Saturday and Sunday. Investors will get accustomed to the current similar story from several earnings reports, time to look beyond the current situation and see the silver lining, which could stem investors in a good mood by Monday opening, creating another jump in XRP price to $0.7850.

XRP/USD daily chart

XRP/USD daily chart

Some tail risks could reemerge from the geopolitical corner, as Russia has restarted bombing Kyiv. With that, more military actions could be set to unfold, and certainly now that Moldovia is reporting escalating violence in yet another breakaway region that is proclaiming to join Russia and seeks help from Russia. Any further escalation or use of more unconventional weapons could drop below $0.60 to $0.5852, a historic pivotal level, and the monthly S2 just above.


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.

Join Telegram

Recommended content

Recommended Content

Editors’ Picks

Digital asset inflows reach record high year-to-date

Digital asset inflows reach record high year-to-date

Digital asset investment inflows saw a three-week consecutive rise, totaling $1.05 billion. Cumulative flows have hit an all-time high of $14.9 billion for the year. The majority of inflows come from US Bitcoin ETFs at $1.01 billion.

More Cryptocurrencies News

Bitcoin long-term holders begin re-accumulation after Semler Scientific and Mt Gox make major whale moves

Bitcoin long-term holders begin re-accumulation after Semler Scientific and Mt Gox make major whale moves

Semler Scientific takes a page from MicroStrategy's playbook with $40 million BTC investment. Mt Gox has yet to begin repaying users despite $9.6 billion BTC transfers across several addresses.

More Bitcoin News

Ethereum may continue outperforming Bitcoin as 'programmable money' may be ETH's new slogan

Ethereum may continue outperforming Bitcoin as 'programmable money' may be ETH's new slogan

Ethereum (ETH) followed a sideways trend on Tuesday as the crypto community seems to favor the term 'programmable money' as ETH's one-liner. Meanwhile, whales have continued accumulating ETH despite profiting from the recent price spike.

More Ethereum News

Pepe sell signal hints at 20% crash before bulls come back Premium

Pepe sell signal hints at 20% crash before bulls come back

Pepe (PEPE) price has shown resilience in the past two weeks, with the most recent rally nearly doubling the meme coin’s market value. However, due to the nature of the recent impulsive move, investors can expect a short-term correction, which could be an opportunity for patient and long-term buyers.

More Pepe News

Bitcoin: BTC struggles, but $80K is at striking distance Premium

Bitcoin: BTC struggles, but $80K is at striking distance

Bitcoin (BTC) price is in a good position to resume the bull rally despite the recent struggle. Optimism will restart if BTC overcomes a critical hurdle and flips it into a foothold. In such a case, the pioneer crypto will be slated to push to a new all-time high (ATH). 

Read full analysis