Ripple Price Prediction – June 11
The Ripple price is down by 1.28% in the last few hours as the current market value has gone below $0.86.
XRP/USD Market
Key Levels:
Resistance levels: $1.17, $1.27, $1.37
Support levels: $0.60, $0.50, $0.40
XRP/USD touches the daily high at $0.89 before giving a bearish signal at the time of writing, the coin is trading below the 9-day and 21-day moving averages as the technical indicator Relative Strength Index (14) keep moving sideways below 45-level. Meanwhile, a break below this level could give the market enough strength to dig dip, but crossing above the 9-day and 21-day moving averages might lead the market to a bullish scenario.
Ripple Price Prediction: Price May Consolidate to the Downside
At the moment, the Ripple price is demonstrating a sign of weakness across its markets. Looking at the daily chart, XRP/USD market is down by 1.28%, reflecting a price drop in the market and the fall might become heavy if the bearish action continues. Therefore, since the Ripple price is moving bearishly, traders can expect the trend to keep advancing lower if the price actions still remain below 9-day and 21-day MAs.
Meanwhile, a break above the moving averages could strengthen the bulls and could push the price to the resistance levels of $1.17, $1.27, and $1.37, or a breakdown might lead the market in a bearish scenario if the price continues to fade, the price may likely reach the supports at $0.60, $0.50, and $0.40.
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Against BTC, the Ripple price is sliding below the 9-day and 21-day moving averages. Therefore, if the selling pressure continues, the XRP price variation may create another low. At the moment, the technical indicator Relative Strength Index (14) is crossing into the negative side; we may continue to see a negative move in the market as much as the coin continues to trade around the lower boundary of the channel.
However, the Ripple (XRP) is currently hovering at 2292 SAT and if the coin crosses below the channel, traders may expect close support at 2200 SAT before breaking to 1800 SAT and below. More so, should in case a bullish movement occurs and break above the 9-day and 21-day MAs; we can then confirm a bull-run for the market and the nearest resistance levels lie at 2800 SAT and above.
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Source: https://insidebitcoins.com/news/ripple-price-prediction-xrp-usd-drops-below-0-89
