• XRP’s price has been consolidating below the $0.43 resistance level for some time, with the 200-day moving average providing support.
• If the $0.43 level is broken to the upside, a rally towards $0.55 could be expected in the short term.
• Against BTC, XRP has been declining for several weeks and may drop to 0.000015 if a bearish rejection occurs at 0.000018.
XRP Consolidates Below $0.43
XRP’s price has not yet shown any significant strength as it continues its struggle to surpass a critical resistance level over recent weeks. On the daily chart, the price has been consolidating in a tight range below the $0.43 resistance level for quite a while, with the 200-day moving average providing support and preventing it from dropping further. If this resistance is eventually broken to the upside, a rally towards $0.55 could be expected in the short term; however, if there is a bearish rejection at this level, then potential support levels would include 50-day moving average trending around $0.37 and key area of $0.3 which had previously stopped downtrend multiple times before.
XRP Struggles Against BTC
Against Bitcoin (BTC), XRP has not been doing too well either as it continues its decline over recent weeks and broke through major support level at 0.000018—potentially leading to further drop towards 0.000015 if confirmation of this breakout takes place in coming weeks; however, as RSI approaches oversold area there is still possibility of fake breakdown happening instead so if that proves true then surge upwards towards 0 that was last seen during August 2020 could be expected soon again..
The Relative Strength Index (RSI) is currently hovering around 40 and indicates no clear trend or momentum in either direction on both USDT and BTC trading pairs making it difficult to assess where exactly will next move take us.. Moving Average Convergence Divergence (MACD) is also slightly bearish but both lines remain close together so no decisive conclusion can be made based off of them either..
On fundamental side Ripple recently announced new partnership with National Bank of Egypt which could bring more liquidity into XRP market but that doesn’t seem enough to push prices up significantly at this point in time since overall sentiment remains rather bearish due lacklustre performance throughout 2021 thus far..
Overall technical analysis suggests that unless major breakthrough happens soon chances are XRP will remain within current consolidation pattern for near future with majority of attention being directed towards critical resistance level at 43 cents and if even that one gets breached than another surge upwards could potentially follow shortly afterwards otherwise crypto might find itself stuck between two aforementioned levels until something else happens externally or internally change dynamics significantly for better or worse depending on perspective taken..