XRP Price Analysis – July 13
Ripple price is struggling to continue higher above $0.40 against the US Dollar and declined heavily against Bitcoin. XRP price could revisit the $0.38 support before a decent recovery.
Resistance levels: $0.44, $0.46, $0.48
Support levels: $0.25, $0.23, $0.21
XRP has traded well below $0.35 and had even tested the support level near $0.31 and is currently trying to come out of the narrow price range of $0.32. The Ripple coin may take quite a time to fully come out of the bearish impact as it is still below $0.35 and under 50-day moving average.
More so, a significant cross above the channel could sustain the bulls to $0.35 and $0.38 highs. Meanwhile, Ripple is currently on a downward trend and may likely maintain it. If XRP manages to surge above $0.35, it may see resistance at $0.44, $0.46 and $0.48, though a further drop can take it to the support levels at $0.25, $0.23 and $0.21. Both the Stochastic RSI and RSI (14) indicators are showing bearish signals.
For over a month, Ripple has been in decline for several days. Since the year started, XRPBTC still has not seen a significant increase among the 20 best cryptocurrencies as the value remains substantially low and as shown on the 4-hour RSI. Maintaining the channel trend, a bearish surge could probably pull price to the nearest support levels at 1500SAT and 1200SAT.
Meanwhile, a bounce up, however, is likely to meet a major resistance at 4000SAT; breaking the upper channel. The 4-hour Stochastic RSI should flow upward by then. A notable breach above the channel may turn XRP trend on bullish. The next key resistance levels would be 4500SAT and 5000SAT. As of now, there’s likely to be a reversal.
Please note: Cryptovibes.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.