Ripple (XRP) Declines to the Downside, Further Falling to $0.94 Is Likely
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Ripple (XRP) Long-Term Analysis: Bullish
Following the rejection on November 10, Ripple’s (XRP) price has fallen from the high of $1.34 to $1.06 at the time of writing. Today, the XRP price has broken below the moving averages. There is a tendency for further downward movement of prices. As already indicated, the downtrend will extend to the low of $0.94 or $0.85.
Ripple (XRP) Indicator Analysis
The crypto’s price bars are now below the 21-day line and 50-day line moving averages indicating a possible downward movement of prices. Ripple has fallen to level 42 of the Relative Strength Index for period 14. The crypto is in the downtrend zone and below the centerline 50. Ripple is likely to further depreciate on the downside. Presently, it is testing the support line of the ascending channel. A breakdown will accelerate downward move.
Technical indicators:
Major Resistance Levels – $2.00, $2.50, $3.00
Major Support Levels – $1.50, $1.00, $0.50
What Is the Next Direction for Ripple (XRP)
Ripple is in a downward move as price breaks below the moving averages. Meanwhile, on November 10 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that XRP price will fall to level 2.0 Fibonacci extensions or $0.89. From the price action, XRP/USD has fallen to the low of $1.06.
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