Ripple Price Prediction – February 16
The Ripple price prediction is sliding below the key supports, and it may continue to move down if it fails to stay above the $0.85 level.
XRP/USD Market
Key Levels:
Resistance levels: $1.00, $1.05, $1.10
Support levels: $0.68, $0.63, $0.58
XRP/USD is dropping with a bearish bias as the coin touches the low of $0.80 and could drop below the 9-day moving average. As the daily chart reveals, the Ripple price is bearish for today as the market retraced over the last few hours to trade at the current market value at $0.84. However, the price may correct higher immediately it crosses above the upper boundary of the channel.
Ripple Price Prediction: Ripple (XRP) May Move Sideways
At the time of writing, the Ripple price struggles to stay above the 9-day moving average. Meanwhile, on the downside, there could be a close below the $0.84 level. According to the daily chart, the coin may drop to open the doors for more losses and the Ripple price may tumble below the $0.80 level. However, should it slide below this level, the critical support levels of $0.68, $0.63, and $0.58 may come into focus as the technical indicator Relative Strength Index (14) nosedives to cross below 60-level.
On the contrary, XRP/USD could either recover above the channel or extend its decline. Therefore, if the coin decides to follow the uptrend and crosses above the upper boundary of the channel, the next major resistance could be located at the $0.90 level. However, the price must climb above the $1.00, $1.05, and $1.10 resistance levels to move back into a positive zone.
When compared with Bitcoin, the bears are likely to step back into the market while the coin shows few negative signs that could make lower lows if the price moves below the 9-day and 21-day moving averages. On the downside, the nearest level of support lies at 1700 SAT, and below this, critical support could be located at 1600 SAT.
Moreover, when looking from the upside, the nearest resistance level is 1930 SAT, and above this, further resistance lies at 2100 SAT and above. The technical indicator Relative Strength Index (14) is moving above 60-level which indicates that the market may follow the bullish movement.
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