Ripple's price shows bearish signs; if the current key support level breaks - the drop could escalate even faster. Technical Analysis By Edris The USDT
Ripple’s price shows bearish signs; if the current key support level breaks – the drop could escalate even faster.On the USDT paired chart, the price has held above the 200-day moving average, around the $0.5 mark, over the past few weeks. However, the price is currently testing the 200-day moving average. If this moving average breaks down, the price will drop quickly towards the $0.43 level.
On the other hand, if the price rebounds from the 200-day MA, this could lead to a bullish move towards the $0.55 resistance zone. Yet, given the RSI indicator showing values below 50%, it is more likely that the bearish scenario will play out.Looking at the BTC paired chart, things are looking similar. XRP is trending down towards the 1800 SAT level, following the breakdown of the 2200 SAT level and the 50-day moving average around the 2100 SAT area.
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