Ripple Price Prediction for Today, May 6: XRP Fails to Climb Back Above $0.60

The Ripple price prediction shows that XRP is likely to remain below the moving averages as the RSI (14) stays below 40-level.

XRP/USD Market

Key Levels:

Resistance levels: $0.70, $0.75, $0.80

Support levels: $0.50, $0.45, $0.40

Ripple Price Prediction
XRPUSD – Daily Chart

XRP/USD may continue to follow the downward movement by moving slowly below the key supports. At the moment, it is likely for the coin to touch the $0.55 support before it could start a new increase. However, during the European session today, the Ripple price struggles to stay above the 9-day moving average, after which the coin begins a slow and steady decline to move into a short-term bearish zone.

Ripple Price Prediction: Ripple Price May Drop to the Downside

The Ripple price is currently exchanging hands at $0.59, and any attempt to make it fall more may open the doors for more downsides, and the price could spike below the $0.58 support level.  However, traders should focus on the $0.60 level before creating a new bullish trend at the resistance levels of $0.70, $0.75, and $0.80.

Moreover, traders may experience a quick buy if the 9-day moving average crosses above the 21-day moving average. Therefore, if the price fails to rebound, a bearish breakout is likely to trigger more selling opportunities for traders, which might cause the price to cross below the lower boundary of the channel and could further drop to $0.50, $0.45, and $0.40 support levels, while the technical support Relative Strength Index (14) moves below 40-level.

Against BTC, the Ripple (XRP) is seen moving sideways as the coin heads toward the 21-day moving average, if the buying pressure continues, the Ripple price may create additional bullish movement. At the moment, the technical indicator Relative Strength Index (14) is moving above the 40-level; more positive moves may surface if the pair crosses above the 21-day MA.

XRPBTC – Daily Chart

Nevertheless, the sellers could expect the nearest support below the 9-day moving average before breaking to 1400 SAT and below. Moreover, if a bullish movement continues, the buyers may likely push the coin towards the upper boundary of the channel, crossing above it may reach the nearest resistance level at 1900 SAT and above.

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