XRP Price Analysis – September 28
Ripple (XRP) could suffer sharp price declines in the coming days if the $0.24 support fails to stop the selling pressure from the market.
Resistance levels: $0.30, $0.32, $0.34
Support levels: $0.18, $0.16, $0.14
Now that Ripple’s XRP is moving in sideways on short-term outlook, we can expect the trend to keep advancing higher if the price actions breakout and move towards the middle line of the Bollinger Bands. A channel breakout could give strength to the market bullishly but the downside could lead the market in a bearish scenario.
However, the downward pressure on the XRP/USD remains persistent and vulnerable below the $0.25 level and the coin is heading towards its worst weekly performance in the last 10 weeks. Should the sellers regain control, a price break-down may occur as the bears may find new monthly low at $0.18, $0.16 and $0.14 support levels. The chart’s volume may show a low negative amount of bars as the stochastic RSI is at the oversold zone, meaning that XRP may fall more.
A few days back, the price of Ripple (XRP) has demonstrated some positive sign across its markets. Against Bitcoin, the trend is still perpetually looking bullish on the long-term, hovering around 2952 SAT while it moves within the ascending channel. Meanwhile, the coin is witnessing a bearish drive against USD for some days now. The resistance levels to watch are 3400 SAT and 3600 SAT.
However, the XRP/BTC pair is slowly dropping on the daily chart with a bearish divergence signal. The closest support to keep an eye on is the 2400 SAT, 2200 SAT, and potentially 2000 SAT. A further drive below the channel pattern and towards the lower boundary of the Bollinger bands could lead to severe bearish phase. The RSI (14) is moving at level 60, which may allow the market to range for some time.
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