Crypto News – Since it hasn’t increased in value like Bitcoin and Ethereum have over the past few months, Ripple has been among the underperforming cryptocurrencies in the current bull market. However, things could soon be changing.
Ripple Crypto Price Analysis: Declining XRP is Expected to Make a Breakthrough
The cryptocurrency is headed to attempt the $0.6 resistance zone after recently rising from the $0.43 and $0.50 support levels versus USDT. Around the $0.6 mark is also the 200-day moving average, which may offer more resistance. On the other hand, investors might expect a rally toward the $0.7 mark and possibly higher if the price manages to rise again above this region.
After falling below the 200-day moving average, the price of the Bitcoin pair has been steadily declining, as can be seen in the weekly chart. A 600 SAT support level exam is presently underway. It would be disastrous if the threshold collapsed because XRP may sink much more in the coming months. Conversely, the market is more likely to eventually recover from the level if the Relative Strength Index clearly indicates an oversold signal.
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