XRP Price Prediction 2020 – XRP’s Price Consolidates Below the $0.25 Level But There is a Chance that the Token Will Recover – September 16th, 2020

XRP
  • XRP Price Moves Lower as Consolidation Continues Below the $0.24 Level
  • XRP Falls Lower Against the USD as it Has Lost the Support at $0.249

XRP Price Prediction 2020 – Ripple XRP has found itself in a consolidation phase following weeks of bearish pressure. The token has formed several resistances and supports but it has remained in a range and will continue to trade in a range until things get better. XRP is stuck in a consolidation phase between the $0.23 and $0.24. Things have been bad for XRP for a while but they got worse when the token fell below the support at $0.300. All efforts to retest this level have been futile and there is a chance that the token will keep declining against the USD near-term.

XRP Price Prediction 2020 – Ripple XRP Falls Below the $0.249 Level

At the time of writing, the price of the Ripple XRP token was $0.243862. This means that it is down by 0.88% against the USD and down by 2.44% against Bitcoin BTC. The trading volume over a 24 hour period was $2,050,528,337 and the market capitalization was $10,984,113,290. The token declined below the $0.249 level this morning but the support at $0.24 level is holding the line. Depending on how things go today, there is a strong chance that the Ripple XRP token will lose this support.

XRP (XRP) Price Today – XRP / USD

NamePrice24H %
ripple
XRP(XRP)
$0.262
4.11%

The technical charts show that the XRP token is currently on a sideways trend. The 9-day moving average and the 21-day moving average are both likely to promote a sideways pattern near-term. If the XRP token sees any bullish action, there is a strong chance that it will move to the $0.28 level where it will face resistance against the USD. The next resistance after this level will be at $0.29. If XRP is able to move above this level, there will be nothing stopping it from retesting the $0.30 resistance. We all know how important this resistance level is to the long-term progress of XRP. If the bears continue to put pressure on the market, the XRP token will fall to the support at $0.24, $0.21, $0.20, and eventually $0.19. A fall below $0.19 will see the XRP token testing yearly lows.

XRP Price Prediction 2020 – the XRP/BTC Trading Pair Remains Bearish

Just like the XRP/USD pair, the XRP/BTC pair is bearish against the near-term. At the time of writing, the price of Bitcoin BTC was $10,867.15. It is up by 1.83% against the USD with a trading volume of $45,063,537,095 and a market capitalization of $200,939,883,376. The relative strength index for XRP is moving below the 40 levels showing that the token is bearish against Bitcoin BTC and will remain bearish near-term. The token is in the 2200 and 2100 Satoshi range.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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