Crypto Blog
Ripple’s price has been consolidating for almost a month now. Yet, the market’s future direction could be determined soon.
Against USDT, the cryptocurrency is still showing no signs of recovery. Since the market dropped below the 200-day moving average, located around the $0.6 level, the price action has been extremely choppy. Currently, the $0.5 support level is being tested once again. If the level breaks down, a decline toward the $0.4 zone would be imminent. With the RSI showing values below 50%, the momentum is bearish, and there is a considerable probability for this scenario.The XRP/BTC chart paints a completely different picture. Ripple has been consistently dropping against BTC for the last 6 months. The 800 SAT level has recently held the price, preventing it from a further decline.
Meanwhile, after almost a month of consolidation around the level, it seems that the 800 SAT zone is on the verge of a breakdown. This would be a catastrophic scenario, as the price could experience a flash crash.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
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