XRP Price: Best and Worst Case Scenarios as $0.4 Holds Steady

• XRP’s price has been sinking over the last few months following a rejection from a key resistance level.
• The bearish reversal at the $0.6 area has initiated the current downtrend, but Ripple is currently testing a key support level near the $0.42 mark and 200-day moving average.
• Against BTC, the price is still trapped inside a large descending channel after failing to break above it on numerous occasions.

XRP Price Analysis

Ripples price has been sinking over the last few months following a clear rejection from a key resistance level. It is currently within a decisive area, and the outcome would likely determine the mid-term trend of the market.

Price Against USDT

The bearish reversal at the $0.6 area has initiated the current downtrend, but the cryptocurrency is currently testing a key support level around both the $0.42 mark and the 200-day moving average. A break below these levels would be catastrophic for Ripple, as the market could rapidly plunge toward $0.3, and potentially even lower, in the short term. On the other hand, if a rebound occurs,the 50-day moving average located near $0.48 mark would be first likely target in coming days.

Price Against BTC

Against BTC,the price is still trapped inside large descending channel after failing to break above it on numerous occasions .The 50-day moving average near 0.000017 level also broken to downside ,and 0.000015 support is currently being penetrated .A breakdown this level would result in deeper decline toward 0.000013 levels .RSI also showing values below 50%, as momentum favor of bulls.

Conclusion

Ripple’s future looks uncertain as its prices continue to sink and test new lows against both USDT and BTC pairs.

Important Levels To Watch

  • “USDT: $0