XRP Set for Big Bounce to $0.9? Critical Level Holds the Key!

• Ripple’s price has failed to break the $0.9 resistance level.
• Currently, it is testing a critical $0.6 support level.
• If the support holds, the cryptocurrency could likely rebound towards $0.9 in the coming weeks.

Ripple Price Analysis

Ripple’s price has been unable to break above a significant resistance level of $0.9 in July and has been correcting since then. The market is currently testing an important $0.6 support level that could determine its future trend for the coming weeks.

Analysis Against USDT

Against USDT, if the mentioned support area holds, investors may be optimistic about the price rallying towards the resistance zone at $0.9 in some time from now on. On the contrary, a breakdown of this key support would cause Ripple to fall further and reach its 200-day moving average near the $0.5 mark soon enough.

Analysis Against BTC

When looking at XRP’s performance against Bitcoin, things seem worse as it has already broken below 2200 SAT and is heading for 1800 SAT which is a static support level along with its 200-day MA nearby that point as well. However, if it manages to climb back above 2100 SAT (50-day MA), this bearish scenario could be invalidated quickly enough too!

Conclusion

In conclusion, XRP’s future trend depends mainly on whether it can break or hold its current key levels of 0..6 and 0..9 against USDT respectively and 2200/2100 SAT against BTC or not! A breakdown of these levels would lead to further losses while a rebound from them will be seen as bullishness by investors and traders alike!

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