It appears like the digital asset market is shaking off an uneven week to round up the last seven days on a good note. Despite many ups and downs for the major digital assets, things are looking better when trading opened today July 14. One major digital asset that has failed to benefit from this current price action for today, is Ripple’s XRP token.
In the last seven days, the price of XRP has been struggling to maintain its position above the $0.40 USD level. Due to serious pressure, the price of the digital asset eventually declined heavily against the leading asset class, Bitcoin. The XRP price is expected to revisit the $0.38 support position before we can expect to see a decent recovery. For now, it is still bearish.
XRP Price Prediction 2019: The Price of XRP Has Tested the $0.31 Support Area
The price of XRP has actually traded well under the $0.35 area. At some point, it tested the $0.31 support level. The price of XRP is currently trying to move out of the tight price range of $0.32. XRP price may take a little more time to push for a full come back from the diminishing bearish impact it has been under in the last week as the XRP is still under the $0.35 area and below the 50-day moving average.
XRP Should Test Resistance at $0.44, $0.46 and $0.38 if it pushes over $0.35
If there is a significant cross above this channel mentioned here, then we could sustain the bulls over the $0.35 and $0.38 positions. Meanwhile, the XRP price is only coming out of a week of downward action and is looking likely that the bears will be around for a little while moving forward.
If the price of XRP manages to move above the $0.35 barrier, it might manage to get to resistance at the $0.44, $0.46 and $0.48 positions. However, any further drop can push the price back to the support areas at the $0.25, $0.23 and $0.21 positions. The Stochastic RSI and RSI 14 indicators indicate a bearish signal.
XRP Price Prediction 2019: How Does the Price of XRP Look Against BTC?
For the past month, the price of XRP has been declining for a couple of days. Since the turn of this year, the XRPBTC pair still hasn’t seen any major increase among the top 20 best cryptos by market capitalization. XRP has been the worse performing coin for the year.
The price of the digital asset remains substantially low. This can be seen on the 4-hour RSI. If the crypto manages to maintain this channel, a bearish surge could pull prices to the nearest support positions at 1500SAT and 1200SAT.
Meanwhile, if there’s a bounce upwards, it will likely meet a major resistance at the 4000SAT position breaking the upper channel. Via the 4-hour Stochastic RSI, we can expect a flow upward after this. A notable breach over this channel may turn the price of XRP trend into a bullish pattern. The next key resistance areas would be at 4500SAT and 5000SAT. As of July 14, it is looking like there would be a reversal.