Ripple (XRP) price has been on a downwards trajectory in recent months, following a rejection from a key resistance level. Currently, it is trading near a significant support level of $0.42 and 200-day moving average. If Ripple is unable to hold key levels of $0.42 and 200-day moving average, it is likely to fall towards $0.3. This will result in a deep decline, most likely towards the 0.000013 levels against Bitcoin (BTC) if the previous 0.000015 support is broken. The RSI is confirming the bearish momentum in the market by remaining below the 50% mark.

On the other hand, if the current support levels are strongly defended, the 50-day moving average near the $0.48 mark will be the primary target for buyers in the short term. However, the bears are strongly established in the market, and it would take a considerable amount of buying pressure to arise to break above the descending channel. If a rebound does occur, however, traders should pay attention to the 50-day moving average as the first potential target in the coming days.

Ultimately, Ripple's current resilience shows that it is still a viable asset despite the recent bear market and it should be strongly monitored in the upcoming days. If XRP is able to hold the above mentioned key levels, price may begin to regain lost ground against BTC, but if the support is breached, the road ahead is likely to be a difficult one. At any rate, investors should consider all of their options carefully before entering any positions and remain vigilant to spot any changes in the market.



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