XRP Price Prediction – March 11
Ripple-XRP has over time been struggling to outweigh the valuation of the US Dollar. But, instead, the crypto has only succeeded in holding its stand in the market not further going down below the $0.40 value. .
Resistance levels: $0.55, $0.65, $0.75
Support levels: $0.35, $0.30, $0.25
XRP/USD – Daily Chart
It appears that the daily trading chart shows a promising bullish-flag outlook at the upper side of the bigger SMA trend-line. Japanese trading candlesticks being formed so far conform with the correctional downward trend-line. The 14-day SMA is located over the 50-day SMA within the levels of $50 and $40 pointing to the east direction. That suggests a degree of range-moving mode is ongoing presently. The Stochastic Oscillators have crossed the hairs at a range of 80. That signals the possibility of getting to see a down is looming.
What could the next moving pattern in the XRP/USD trade?
An indication has shown that the trading level of $0.40 has come to be the key line that XRP/USD bulls will have to hold firm against any sudden forceful dump. However, a violent breakdown coupled with a quick reversal below the point mentioned earlier will give a clearer trading psyche of a bullish decent entry. A sustainable violent breakout of a high resistance value around $0.75 will potentially let the crypto-market set a reliable grand for its bullish trend to run in many trading sessions successfully.
On the downside, a successful breakdown of the vital point of $0.40, will allow the bears to take the crypto’s value down to a low level between $0.30 and $0.25 or, in extension to quickly revisit support around $0.20. That said, traders should be wary of late joining while that scenario comes to play. And, also, they should be cautious of not getting trapped by a fake breakdown of that important point.
XRP/BTC Price Analysis
Taking a look at the market-moves weight between XRP and BTC, it is yet the same as in the recent past that the two instruments are within their range-bound trading zones. The counter-crypto still exerts relative pressures on the base-crypto even in the range trading levels. The two SMAs are located in the range trading points as the 14-day SMA is a bit over the market level underneath the 50-day SMA. The Stochastic Oscillators have moved into the oversold region. That suggests that the counter instrument’s capacity is gradually fading off. Therefore, in no time, the base-crypto may recover its lost momentum.