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Ripple (XRP) Price Predictions for This Week (July 9)

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XRP’s price has approached $1 in recent weeks, and now the key question is whether that level can halt the decline.

Ripple (XRP) Price Predictions: Analysis

Key support levels: $1

Key resistance levels: $1.3, $1.6, $2

 Sellers are Returning

After a short relief rally towards $1.18, sellers have returned and seem to have full control over XRP. In the last four days, the price has been falling without any bounce and appears ready to test the key support at $1 again.

In late June, the price hovered just above $1 for several days before buyers managed to push XRP higher. However, this could turn out to be a dead cat bounce before new lows. That’s because the overall trend remains bearish.

xrp_price_chart_0907261
Source: TradingView

Buyers Vanished

Since last Sunday, buyers have vanished from the order book. As soon as the price touched $1.18, buy pressure collapsed, paving the way for sellers to take control.

The only positive thing about XRP right now is the falling volume. Even if sellers appear in control, the volume continues to decline. This indicates a lack of conviction, which could mean that buyers are waiting for an opportunity to return.

xrp_price_chart_0907262
Source: TradingView

Daily RSI Remains Bearish

This summer, the RSI on the daily timeframe made two attempts to move beyond 50. However, each time, the price did a full reversal, erasing any hopes of a sustained rally. This can be interpreted as bearish.

On the other hand, the RSI is making higher lows and higher highs. This is encouraging, but unless the price does the same, it will remain a bullish divergence that is not confirmed.

xrp_ris-chart_090726
Source: TradingView

Le poste Ripple (XRP) Price Predictions for This Week (July 9) est apparu en premier sur CryptoPatate.

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