After spending weeks without any big price changes, XRP is slowly losing value against both the USDT and BTC cryptocurrencies. So far, there’s no sign that the price is going up again or that the overall trend is changing. The price keeps staying below important levels called moving averages. These averages show the typical price over a specific time. Even when the price tries to bounce back, it doesn’t last long, and those small increases keep getting stopped at lower levels. Unless something changes soon, XRP’s situation doesn’t look good.
Technical Analysis
The USDT Pair
Looking at the daily chart for the XRP/USDT pair (this is how XRP is compared with a stable cryptocurrency called USDT, which is equal to the US dollar [USDT]), the price is still stuck in a downward pattern. This pattern has been going on since August. Right now, key moving averages, like the 100-day and 200-day ones, are well above XRP’s current price, which adds pressure to the price trying to go up.
Recently, the price tried to rise just under the $2.40 level but got rejected again. This shows that sellers are still controlling the market. At the moment, XRP is trading at around $2.01, very close to an important demand area at $1.80. If the price falls below this level, it could quickly drop further to $1.50 or even down to $1.20. The Relative Strength Index (or RSI), which tells us how strong price movements are, is close to 40. This is not a good sign because it shows the price momentum is still weak in favor of sellers. ([RSI])
The BTC Pair
When comparing XRP to Bitcoin (BTC [BTC]), the situation doesn’t look any better. XRP broke out of an upward pattern and fell below a critical level of 2,400 sats. (Sats, short for satoshis, are the smallest units of Bitcoin [sats].) This was an important sign of weakness because staying above this level showed some stability. Now, the price is around 2,230 sats.
Additionally, the key moving averages, which were once below the price, now act as resistance around the 2,400 sats mark. This means it’s been hard for XRP to move back up in the past week. What’s worrying is that XRP’s BTC pair had been creating higher lows (this showed that the price was slowly stabilizing), but now that pattern is broken.
If the price keeps dropping, the next key support level is at 2,000 sats. Overall, there’s no clear strength in the XRP/BTC pair either. The price is slowly going down with no visible signs of turning around.
Source: TradingView ([TradingView])