XRP Price Prediction – March 31
For the past few days, Ripple (XRP) has been unable to develop the upside momentum above $0.60.
XRP/USD Market
Key Levels:
Resistance levels: $0.65, $0.70, $0.75
Support levels: $0.45, $0.40, $0.35
XRP/USD trades near the resistance level of $0.60 at the opening of the market today, the price touches the daily high of $0.58 but failed to hold the ground and retreated quickly towards $0.50 at the time of writing. However, the Ripple (XRP) has stayed mostly unchanged both on a day-to-day basis and since the beginning of today. XRP/USD now remains at a tight range that limited its bullish movements since late last month.
What to Expect from Ripple
XRP/USD commences an intriguing recovery towards a $0.60 resistance level. The initial break above the upper boundary of the channel may boost the price farther up. The Ripple (XRP) hit a daily high of $0.58 before retreating back to where it is currently trading. Meanwhile, from above, more hurdles may come into play towards the upper boundary of the channel and of course, the nearest resistance level is located at $0.60.
However, the short-term trend remains in the hands of the bulls supported by the technical indicator where the RSI (14) is moving above 60-level, building on the consistent recovery from the downside recorded sometimes ago. Nevertheless, a break above $0.65 and $0.70 resistance levels may most likely push the coin above the potential $0.75 resistance level while a break below the channel may lead to the supports at $0.45, $0.40, and $0.35 respectively.
Against Bitcoin, the pair is consolidating to the downside and hovering within the 9-day and 21-day moving averages. However, the bulls have failed to push the price above the upper boundary of the channel. Should in case they break above this barrier, the market price may likely hit the resistance level of 1150 SAT and above.
However, if the coin continues to follow the downtrend, then it may send the price to the critical support at 750 SAT and below. Meanwhile, the technical indicator RSI (14) is moving below the 55-level, more bearish signals may likely play out.