Ripple Price Forecast – July 7th
The ripple price has not been able to develop a bullish trend above $ 0.70 as a coin range.
XRP / USD market
Resistance levels: $ 0.95, $ 1.05, $ 1.15
Support levels: $ 0.40, $ 0.30, $ 0.20
XRP / USD touches the $ 0.68 resistance level as the market opened today, but the coin failed to hold an upward movement as it quickly withdrew towards the $ 0.65 support. Nevertheless, the Ripple (XRP) has been moving sideways since June 24, and the coin is still in tight territory, limiting upward movements above the 9-day and 21-day moving averages.
Ripple Price Forecast: What could be the next direction?
According to the daily chart Ripple price follow in the same direction east. However, if the bulls manage to raise the Ripple price above the 9-day and 21-day moving averages; they could find resistance at $ 0.40, 0.30, and $ 0.20.
At the same time, if the market follows a downward movement, it is likely to reach the nearest support price of $ 0.50 and a new drop could pull XRP / USD support levels to $ 0.40, $ 0.30 and $ 0.20. In addition, the technical indicator Relative Strength Index (14) confirms the lateral movement when the signal line remains below 45 levels. Therefore, traders should follow the movement of the next possible direction of the Ripple price.
When compared to Bitcoin, the Ripple price is also seen to move sideways, although price activity has remained unchanged below the 9-day and 21-day moving averages. At the same time, if selling pressure continues, a fluctuation in the Ripple price is likely to create a new low coin in the next trading days.
Currently, the relative strength index (14) of the technical indicator is seen to move in the same direction; traders may see a negative change if bears withdraw from the market and should expect close support in 1700 SAT. However, any descending movements toward the lower boundary of the channel can pull a coin for critical support of 1650 SAT and below. On the other hand, if an upward movement occurs and confirms a break above the 9-day and 21-day moving averages; traders can confirm an upward movement in the market, and the nearest resistance level can be 2300 SAT and higher.
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