Ripple (XRP) Price Predictions for This Week

XRP failed to breakout and is now below $1.4. How low will sellers take it?

Ripple (XRP) Price Predictions: Analysis

Key Support Levels: $1.2, $1

Key Resistance Levels: $1.4, $1.6, $2

Breakout failure led to reversal

Initially, XRP surpassed the blue pennant, sparking bullish movement and optimism. However, since then, the price fell back to the pennant and also broke below the key support at $1.4.

This price action could be interpreted as a bullish trap with a full reversal putting sellers in charge. As long as $1.4 acts as resistance, lower lows are likely with $1.2 and $1 as key targets for the bears.

The sellers return

Since the price failed to stay above $1.4, the chart turned bearish and sellers have the upper hand at the moment. The drop below $1.4 was due to increased sales volume, which gives confidence in this move.

If the price falls below the blue flag, XRP is likely to hit new lows and will likely struggle to contain the selling pressure. Buyers, however, could position themselves around $1.2. Any failure there would open the way to $1.

MACD showed weakness

During the initial rally, the MACD formed lower highs on the histogram. This was an early bearish divergence, showing that buyers do not have the strength to sustain this uptrend.

This weakness was now exposed by the price, which failed to stay above $1.4. Furthermore, the MACD moving averages are curving downwards and could soon form a bearish crossover, which could keep the chart in a downtrend for some time.