XRP lost its support at $1.4, how low will it go next?
Ripple (XRP) Price Predictions: Analysis
Key support levels: $1.3, 1
Key resistance levels: $1.6, $1.4
XRP Loses Key Support
With buyers unable to keep the price above the $1.4 support, this level has become resistance, and XRP was forced lower. Bulls have retreated to $1.3, but this level is unlikely to hold if pressure continues to build.
The most likely support to reverse this downtrend is closer to $1, a key psychological level. The price may quickly fall lower if $1.3 cracks and revisits the lows from early February, when the price briefly spiked to $1.1.
Buy Volume Absent
Without buyers, there is no way to stop the current downtrend. A look at the weekly timeframes shows that in the past 10 weeks, only two weeks closed in green. This highlights the bears’ clear dominance over the price.
If sellers break below $1.3 and make a lower low, then that will only reinforce the ongoing downtrend. That will put a lot of pressure on the $1 support level, which may struggle to stop a future crash.
Daily MACD Turns Bearish
In the past week, the daily MACD has turned bearish after the moving averages reversed and started falling again. This change places the indicator on the negative side, giving a bearish bias.
Considering that the MACD histogram is still trending lower and has yet to form clear higher lows, the downtrend is likely to continue. Only if the support at $1.3 holds can XRP hope to attempt a reversal by reclaiming $1.4.
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