According to CryptoPotato, Ripple's price has been consolidating against USDT and BTC after a significant decline. However, there are indications that the situation may soon improve. A technical analysis by TradingRage shows that XRP has recently rebounded from the $0.4 support level and has broken back above the $0.5 zone. The market is currently retesting the $0.5 level. If it holds, the price is likely to rally toward the $0.6 resistance zone and the 200-day moving average, which is around the same price. However, the RSI is showing values below 50%, indicating that the momentum is still bearish. A rise above 50% by the RSI could signal the beginning of a new rally.
In the XRP/BTC chart's daily timeframe, the situation is quite similar. The price seems to have found support around the 800 SAT zone, following months of consistent decline. The RSI has also broken above 50%, indicating that the momentum has finally become bullish. If the 800 SAT level holds, the market is likely to recover and target the 1200 SAT level in the coming months. However, the long-term trend cannot be considered bullish while XRP is trading below the 200-day moving average. It is important to note that these are observations and predictions based on current market trends and should not be taken as investment advice. Investors are advised to conduct their own research before making any investment decisions.
