• XRP’s price has been unable to break a critical resistance level of $0.43 over recent weeks.
• Against Bitcoin, the cryptocurrency has been on the decline for the last few weeks and broke below the 0.000018 support level.
• If the 0.000018 level is confirmed as broken, further drops towards 0.000015 are expected in coming weeks.
Ripple Price Analysis
XRP’s price has not yet shown any significant strength as it continues its struggle to surpass a critical resistance level of $0.43 over recent weeks.
XRP/USDT Daily Chart
On the daily chart, the price has been consolidating in a tight range below this resistance level for quite a while, with the 200-day moving average located around $0.4 providing support and preventing further drops.
If this resistance is finally broken to the upside, XRP could rally towards $0.55 in short term; however, if rejection occurs then 50-day moving average around $0.37 would be first potential support before key $0.3 area.
XRP/BTC Daily Chart
Against BTC, XRP has been declining for few weeks and 0.000018 major support was broken to downside.
A confirmation of this breakdown will potentially lead to further drop towards 0.000015 in coming weeks; however, RSI approaching oversold area may indicate fake breakout.
XRP seems stuck at its current levels against USDT and needs to break above $0.43 for any hopes of an upward move, while against BTC it needs to reclaim 0.000018 level for any chances of recovery.