Ripple’s XRP Price Analysis and Prediction for September 23rd – $0.28 Support Failed

It’s Monday and the beginning of a new week. Most cryptocurrency markets are still trying to recover from this weekend’s downhill slide with Litecoin up over 2% in the past 24 hours, showing first signs of life. Ripple’s XRP price is down 2.8% after breaking down through the $0.28 support. With the recent news about the SEC suing Ripple Labs over its XRP sale, this bearish momentum is not unexpected and unfortunately may last for quite some time. Let’s take a look at any new developments for Ripple and XRP, and let’s also take a look at the charts to see what they have in store for us.

Ripple and XRP News

As mentioned in my previous XRP price analysis, the biggest news surrounding Ripple and XRP is the SEC lawsuit brought on against Ripple labs for allegedly selling securities. In response, Ripple has filed a motion to dismiss on the grounds that the lawsuit came too late and the SEC has already decided that XRP was not a security to begin with.

In other more positive news, MoneyGram CEO Alexander Holmes showed excitement about the Ripple platform and what it can do for their platform. MoneyGram is banking heavily on Ripple, so much so that when the company communicated their endeavor into integrating with distributed ledger-based transfers, their stock price soared by over 160%.

Ripple Price Analysis

Relative Strength Index: The RSI is currently at a healthy 45 points. It has stayed mostly within range the past week meaning that the same trend will most likely continue. Even through the RSI is healthy, the market still seems to be on a downward trajectory.

Bollinger Bands: The price is currently within the bollinger bands after crossing below the lower band a few hours earlier. We have been seeing the price continue to gravitate toward the lower band since it has been on a bearish move ever since peaking at $0.32.

Volume: It looks like the volume is starting to pickup compared to what it was last week. Moreover, with the new week ahead of us we should expect an increase in volume in the next 24-48 hours.

Ripple’s XRP Price Prediction

The RSI is healthy, the price is within the BB range and volume is low. This usually means that the market will continue to trade sideways. However, if we look at the big picture and take into account current events, we can see the market is definitely in a bearish phase. Moreover, XRP was unable to hold the $0.28 support level and is currently looking for a new level.

In my yesterday’s XRP price prediction, I predicted that:

“the most likely scenario is more bearish momentum in the coming days. XRP has massive support at the $0.26 level, so my prediction is that XRP will touch that point sometime next week, and depending on any more news regarding the SEC lawsuit XRP will either rebound upwards or continue trading at that support level.”

It looks like this is exactly what’s happening as XRP will most likely test the $0.26 support sooner than I expected. My prediction for today is that XRP will touch the $0.26 level and bounce up to $0.27 or $0.28 from there. The SEC lawsuit is sure to bring bearish pressure, but at the end of the day their lawsuit doesn’t have effect on the tech behind XRP, which is what gives the currency most of its value.

XRP Charts By Tradingview


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.

71 Comments

  1. JamesCef January 13, 2021
  2. DavidSek January 22, 2021
  3. Geraldgof January 26, 2021
  4. Geraldgof January 26, 2021
  5. Lisaarbig January 30, 2021
  6. Cash Loan January 30, 2021
  7. Lisaarbig January 30, 2021
  8. Amyarbig January 31, 2021
  9. Amyarbig February 2, 2021
  10. Amyarbig February 2, 2021
  11. Kiaarbig February 3, 2021
  12. Louisnax February 4, 2021
  13. Louisnax February 4, 2021
  14. Louisnax February 5, 2021
  15. Lisaarbig February 7, 2021
  16. Online Loan February 7, 2021
  17. RolandJache February 7, 2021
  18. Payday Loans February 10, 2021
  19. Best Payday Loan February 11, 2021
  20. Lisaarbig February 12, 2021
  21. Payday February 13, 2021
  22. Amyarbig February 14, 2021
  23. Spotloan February 14, 2021
  24. Amyarbig February 15, 2021
  25. Money Loan February 15, 2021
  26. Bad Credit February 15, 2021
  27. Amyarbig February 16, 2021
  28. Best Online Loans February 16, 2021
  29. Lisaarbig February 16, 2021
  30. Money Loan February 17, 2021
  31. Bad Credit February 17, 2021
  32. Lisaarbig February 18, 2021
  33. Amyarbig February 19, 2021
  34. Kiaarbig February 19, 2021
  35. Paydayloan February 19, 2021
  36. Lisaarbig February 20, 2021
  37. Online Loans February 21, 2021
  38. Lisaarbig February 21, 2021
  39. Instant Online Loans February 21, 2021
  40. Amyarbig February 21, 2021
  41. Kiaarbig February 22, 2021
  42. Kiaarbig February 23, 2021
  43. Payday Loan Online February 25, 2021
  44. Kiaarbig February 25, 2021
  45. Personal Loans February 26, 2021

Leave a Reply