Ripple Price Prediction – October 6
The Ripple price is improving as the coin is now facing up in an intraday zone above the moving averages.
Resistance levels: $1.30, $1.35, $1.40
Support levels: $0.85, $0.80, $0.75
XRP/USD is now hovering above the 9-day and 21-day moving averages amid global recovery on the cryptocurrency market. The Ripple price keeps improving as the coin touched the intraday high at $1.171 level. At the time of writing, XRP/USD is still warming up to gain more upsides as the technical indicator Relative Strength Index (14) moves to cross above 60-level.
Ripple Price Prediction: Can Ripple (XRP) Gain More Upsides?
Looking at the daily chart, the red-line of 9-day MA is crossing above the green-line of 21-day MA to continue the upward movement. However, if the Ripple price crosses below the moving averages, it may turn bearish and a break below the lower boundary of the channel could start to put the coin back to the negative side.
Meanwhile, if buyers can keep the movement above the 9-day and 21-day MAs, the first level of resistance could be found at $1.20 level; any further bullish movement above this level may hit the potential resistance at $1.30, $1.35, and $1.40 levels. On the downside, the support at $0.90 should be able to hold the current movement. If the market pushes beneath, the market may turn bearish and further support levels are located at $0.85, $0.80, and $0.75.
When compares with Bitcoin, the Ripple price is still following the bearish movement and if the selling pressure increases, XRP/BTC price may create a new monthly low. At the moment, the technical indicator Relative Strength Index (14) remains beneath; traders may experience more downtrends within a short time as the signal line moves into the oversold region.
However, the Ripple is currently trading at 1991 SAT, which is below the 9-day and 21-day moving averages. Any bearish cross below lower boundary of the channel may hit the critical support at 1800 SAT and below. On the other hand, if a breakout above the 9-day and 21-day moving averages surfaces; there may be a confirmation of an upward move for the market and the next resistance level may be located at 2300 SAT and above.
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This post first appeared on: Inside Bitcoins