Ripple’s XRP has been on a different trajectory compared to Bitcoin and Ethereum, with the price currently consolidating and retracing against both USDT and BTC.
Despite this, there remains a potential for further upside as long as crucial levels are maintained.
XRP Price Technical Analysis
Written by ShayanMarkets
USDT Pair
On the daily chart of the XRP/USDT pair, investors are showing indecision as the price struggles to surpass the $3.40 resistance level amidst competitors reaching new all-time highs. However, the support at $2.80 remains strong, with the 100-day and 200-day moving averages reinforcing this level, supporting a bullish outlook.
With the RSI indicating a bearish momentum shift, breaching the $2.80 support could lead to a deeper pullback towards the $2.10 zone in the near term.
BTC Pair
Turning to the XRPBTC chart, there is a more positive outlook as XRP breaks out of a descending channel after a significant rally in July. The convergence of the 100-day and 200-day moving averages around the 2,400 SAT support level presents a critical juncture that could propel the price higher or trigger a sharp decline if breached.
While the market structure is not yet decisively in favor of buyers, maintaining the 2,400 SAT level is crucial to potentially fuel the next rally and avoid a significant crash below 2,000 SAT in the short term.
The original article was published on CryptoPotato.
