• Ripple’s price is correcting after a surge, but there are multiple support levels nearby.
• Against USDT, the current target may be the 50-day moving average around $0.6 and 200-day moving average around $0.5.
• Against BTC, XRP has been rejected from the 2,800 SAT resistance level and is targeting 2,200 SAT area.
Overview of XRP Price Analysis
Ripple’s price is currently correcting after a significant surge following the win against SEC. However, there is little reason for concern as there are multiple support levels nearby to potentially bounce off of in order to propel its price upwards again.
XRP/USDT Price Analysis
Against USDT, the price has been constantly declining after being rejected from the $0.9 resistance level. The market is likely targeting the 50-day moving average around the $0.6 support level and 200-day moving average trending near the $0.5 mark which could act as another key support if it breaks down from the 50-day MA level.
XRP/BTC Price Analysis
Against BTC, XRP’s price has been decisively rejected to the downside by the 2,800 SAT resistance level and is currently on a steep downtrend towards the 2,200 SAT area if this holds up as a support zone . In case of an upside breakout above this level it would result in an attempt to reach and test again at 2,800 SAT area in upcoming weeks.
Overall there seems to be little reason for concern regarding XRP’s current correction as long as these multiple support levels hold up and prevent further declines towards lower levels that were previously tested earlier this year before its impressive rally over recent months with some investors hopeful that it will reach record highs again soon if all goes well without any major regulatory issues arising in future days ahead .
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