According to CryptoPotato, Ripple's price has been in a consolidation phase for the past few months, showing no signs of either a drop or rally. On the USDT pair, Ripple has been range-bound since falling below the 200-day moving average, currently around the $0.55 mark. The price recently broke the $0.5 support level to the downside. If it fails to reclaim this level in the coming days, a drop towards the $0.4 support zone seems likely. The RSI also indicates values below 50%, suggesting a bearish move.
The XRP/BTC chart also shows a period of consolidation over recent months. The price has not managed to rise above the 800 SAT resistance zone since May and may test the 600 SAT support level again in the short term. As long as the cryptocurrency remains below the 200-day moving average, currently trending around the 1000 SAT mark, a rally against BTC is not anticipated.
It's important to note that the information provided should be used at one's own risk. It's advised to conduct personal research before making any investment decisions. The opinions found on CryptoPotato are those of the quoted writers and do not necessarily represent the views of CryptoPotato on whether to buy, sell, or hold any investments.
