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Home News

Ripple Price Prediction: XRP/USD Explodes $0.58 Daily High as Price Touches

Bishop eL by Bishop eL
3 years ago
in News
Reading Time: 2 mins read
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The Ripple (XRP) is currently pushing higher with 8.03% gains as the coin climbs above the $0.55 level.

XRP/USD Market

Key Levels:

Resistance levels: $0.62, $0.64, $0.66

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Support levels: $0.47, $0.45, $0.43

XRP/USD is at a high rate of $0.58 when it is written, since the price is higher than the upper channel. A couple weeks ago, Ripple traded sideways, but today’s higher push allows XRP/USD to reach their daily peak. This bounce over the moving averages of 9 and 21 days indicates that buyers now control market movement.

What’s next to XRP Price?
If the Ripple Bulls are to keep up their new momentum, they must keep the price above the channel and convert the moving averages for both 9 days and 21 days into support levels and continue to trad until they are totally over the channel.But a bullish breakup over the barrier might lead to a Ripple price of $0.62, $0.64, $0.66 and $0.66 as the RSI (14) crosses the 60-niveau.

Furthermore, after the daily high of $0.58, XRP/USD trading costs $0.55. That is to say, a fall below $0.50 may lead to a downward spiral of Ripple and a fall of $0.48. On the other hand, local support can be established at approximately $0.47. The sale may be extended to $0.45 and $0.43 respectively in critical supports when broken down.

The price for Ripple has gradually increased within the channel compared to Bitcoin.The price starts to rise slowly and is trading around 1038 SAT. The price of the Ripple is now in the downward channel as traders are waiting for the bulls to, I hope, hold the price above the moving averages of 9 days and 21 days.

In addition, traders may expect initial resistance at 1 200 SAT if the bulls break above the upper edge of the channel. Higher resistance lies above and beyond at 1300 SAT. On the downside, traders could expect support at 800 SAT and below if they push the market below the moving averages. In the meantime the RSI (14) technical indicator crosses the 60-level and may be upward.

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RBI Governor Says Cryptocurrency Approach Agreement between government and central bank

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RBI Governor Shaktikanta Thursday at the Indian Economic Conclave, which the Network of the Times organized, answered some questions regarding cryptocurrency, digital rupee and future legislation on digital currency. There were questions as to whether the Ministry of Finance and the Central Bank share the same view of India's cryptocurrency. The Central Bank expressed its "significant concerns" about cryptocurrencies, despite the statement from Finance Minister Nirmala Sitharaman that the government does not stop any cryptocurrencies options and adopts a calibrated approach. If there is any difference of opinion from the central Bank and the finance ministry on cryptocurrency, the RBI governor affirmed, during the Economic Conclave on Thursday "I do not think the finance ministry or the Reserve Bank has given any different points of view … I have reasons to believe that the government is in agreement" "I believe this is no difference of opinion," reiterated Das, adding that "the digital currency of the central bank is one thing, while the cryptocurrencies being traded in the market are another." The Governor of the Central Bank of India stressed that both the RBI and the government are "in favor of financial stability. "We have flagged certain concerns around these cryptocurrencies which are being traded in the market. We have flagged certain major concerns to the government" "The government is still under scrutiny and a decision will come out sooner than later," Das concluded.

RBI Governor Says Cryptocurrency Approach Agreement between government and central bank

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