Ripple price has been stable in a very narrow range for the past few days and has yet to give any indication of its future direction.
USDT Pair Chart
On the USDT pair chart, the price recently declined sharply from $0.65, falling below the 200-day moving average, located near $0.55.
Over the past week, the market has been moving sideways below the 200-day moving average and has failed to break above it.
As the structure shows, further decline towards the key support level of $0.50 is likely in the short term. However, a recovery from that area can still be expected.
BTC Pair Chart
The BTC pair chart is in a similar situation. The market failed to break above the 1000 SAT mark and is currently testing the 800 SAT support level and the 200-day moving average, which is located around that price level.
If these levels are broken to the downside, the price could drop to 650 SAT in the coming weeks.
On the other hand, a rebound from the 800 SAT area could lead to a rally towards the 1,200 SAT area, but this scenario is much less likely than the bearish one.
