Ripple Price Analysis: XRP Risks Dumping to $1.6 as Bullish Momentum Lacks
XRP continues to show relative weakness in a recovering crypto market. While Bitcoin and Ethereum held key levels and bounced modestly, Ripple’s token remains in a corrective phase.
Both the USDT and BTC pairs have broken key support trendlines, signaling potential for further downside if broader sentiment doesn’t improve.
Technical Analysis
By ShayanMarkets
The USDT Pair
The XRP/USDT pair recently broke below its rising wedge formation after failing to reclaim the $2.80 resistance zone. The breakdown occurred with expanding sell-side pressure, driving the price toward the next demand zone around $2.
This area aligns with the midline of the larger descending channel, making it a critical level to hold. If the price fails to rise back above the 100-day and 200-day moving averages around $2.40, the bearish structure remains intact.
Moreover, the asset is now consolidating just under the wedge’s lower boundary, with no convincing bullish momentum showing up. The RSI sits around 40, reflecting weakening bullish momentum. If sellers continue to dominate, an even lower move toward the $1.60 support range is likely, where liquidity from previous accumulation exists.
The BTC Pair
In the BTC pair, XRP has broken below the key 2,100 SAT support area with low momentum. A potential breakdown from the falling wedge pattern and the earlier rejection from both the 100-day and 200-day moving averages, located around the 2,500 SAT mark, suggests sellers are still in control. There is also no bullish divergence on RSI, which has dipped below 40, showing persistent weakness.
The next major area of interest lies around the 1,900–1,700 SAT zone. This level marks the range of a prior imbalance (fair value gap), where a reaction could occur. If XRP fails to find support here, it risks slipping much lower toward 1,100 SAT, especially if Bitcoin dominance continues to rise.
The post Ripple Price Analysis: XRP Risks Dumping to $1.6 as Bullish Momentum Lacks appeared first on CryptoPotato.
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Watch These 3 Ripple (XRP) Price Predictions in July
Ripple Price Analysis: XRP Risks Dumping to $1.6 as Bullish Momentum Lacks
XRP continues to show relative weakness in a recovering crypto market. While Bitcoin and Ethereum held key levels and bounced modestly, Ripple’s token remains in a corrective phase.
Both the USDT and BTC pairs have broken key support trendlines, signaling potential for further downside if broader sentiment doesn’t improve.
Technical Analysis
By ShayanMarkets
The USDT Pair
The XRP/USDT pair recently broke below its rising wedge formation after failing to reclaim the $2.80 resistance zone. The breakdown occurred with expanding sell-side pressure, driving the price toward the next demand zone around $2.
This area aligns with the midline of the larger descending channel, making it a critical level to hold. If the price fails to rise back above the 100-day and 200-day moving averages around $2.40, the bearish structure remains intact.
Moreover, the asset is now consolidating just under the wedge’s lower boundary, with no convincing bullish momentum showing up. The RSI sits around 40, reflecting weakening bullish momentum. If sellers continue to dominate, an even lower move toward the $1.60 support range is likely, where liquidity from previous accumulation exists.
The BTC Pair
In the BTC pair, XRP has broken below the key 2,100 SAT support area with low momentum. A potential breakdown from the falling wedge pattern and the earlier rejection from both the 100-day and 200-day moving averages, located around the 2,500 SAT mark, suggests sellers are still in control. There is also no bullish divergence on RSI, which has dipped below 40, showing persistent weakness.
The next major area of interest lies around the 1,900–1,700 SAT zone. This level marks the range of a prior imbalance (fair value gap), where a reaction could occur. If XRP fails to find support here, it risks slipping much lower toward 1,100 SAT, especially if Bitcoin dominance continues to rise.
The post Ripple Price Analysis: XRP Risks Dumping to $1.6 as Bullish Momentum Lacks appeared first on CryptoPotato.
Read More