Ripple Price Forecast – February 21
Ripple’s price prediction is down 2.51% in the last few hours as the current market cap falls below the $0.80 support level.
Resistance Levels: $0.95, $1.00, $1.05
Support Levels: $0.60, $0.55, $0.50
XRPUSD – Daily Chart
XRP/USD hits the daily high at $0.80 before giving a bearish signal at the time of writing, the coin is sliding below the 9-day and 21-day moving averages, while the Relative Strength Index technical indicator (14 ) goes to the negative side. Meanwhile, a break below the $0.75 support level could give the market enough strength to dive, but crossing above the upper boundary of the channel could take the market south.
Ripple Price Forecast: Price may drop below $0.70 Support
As revealed by the daily chart, the price of Ripple is showing a sign of weakness as the coin is down 2.51%, reflecting a price drop in the market. Meanwhile, the decline could turn heavy if the bearish action continues within the channel. However, as the Ripple price is moving lower, traders can expect the trend to continue advancing lower if price actions remain below the moving averages.
Meanwhile, an up breakout could strengthen the bulls and push the price towards the $0.95, $1.00 and $1.05 resistance levels. More so, any breakout could push the market into a bearish scenario if the price continues to decline, the price can likely hit the supports at $0.60, $0.55 and $0.50.
Against BTC, the price of Ripple has yet to cross the upper boundary of the channel as the coin moves to cross below the 9-day moving average. However, if selling pressure continues, Ripple (XRP) could create another bearish. At the moment, the Relative Strength Index (14) technical indicator is likely to cross below the 60 level; traders may start to see negative movement in the market.
XRPBTC – Daily Chart
As per the daily chart, Ripple (XRP) is currently hovering at 1980 SAT and if the coin crosses below the 9-day and 21-day moving averages, traders can expect nearby support at 1800 SAT and below. But, if the bullish move occurs and breaks above the channel, traders can confirm a bullish run for the market, and the closest resistance level could be located at 2200 SAT and above.
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