Ripple Price Prediction: Bulls And Bears Continue Tug Of War As XRP Moves Horizontally
Daily Ripple XRP Technical Analysis
- Ripple’s relative strength index is still trending along at the edge of the oversold zone.
- The Bollinger Band has started to constrict, showing decreasing price volatility.
Following a dip from $0.34 to $0.21, the price has been trending horizontally for the last six days, below the 200-day SMA. It's obvious that the cross-border remittance token is still reeling from the aftereffects of the SEC lawsuit. In the wake of the lawsuit, several crypto exchanges have delisted XRP. Let’s see how the price is handling itself through technical analysis.
Ripple Hover Below 200-Day SMA
Looking at the daily chart, we can see that the Bollinger Band had expanded dramatically in the last week of December, when the price had dropped by a big margin. The band has since started to contract, which indicates low volatility since the price is consolidating.
Image: XRP/USD daily chart
The relative strength index (RSI) is trending along the edge of the oversold zone, which shows that the asset could be undervalued soon. The 4-hour chart shows that market momentum is slightly bullish. Plus, both the 20-bar and 50-bar SMA are now acting as healthy support, encouraging the buyers to make a comeback.
Image: XRP/USD 4-hour chart
Key Price Levels To Watch
The buyers need to flip the 200-day SMA ($0.30) from resistance to support as soon as possible. This will be key in them making a comeback.
On the other hand, XRP can’t afford to fall below the 20-bar and 50-bar SMAs in the 4-hour chart ($0.23). A fall below this could be catastrophic as it will take the price to the $0.17 support line.