- Ripple price struggles for another week beneath the $0.60 monthly S1 support.
- The alt might drop further if it closes this week beneath the monthly S1.
- The remittance coin might decline by 17% in the upcoming week.
Ripple’s (XRP) price seems to test investors’ nerves. The remittance crypto tested and broke the monthly S1 for another consecutive week. For now, the token requires a weekly close beyond this footing to support recoveries.
Meanwhile, a weekly close beneath the level might attract further plummets, XRP potentially losing 17%. Moreover, the alt appears prime for plummets, targeting $0.50 in the upcoming week.
Ripple Price Function
Ripple seems ready for a close beneath the $0.60 monthly S1 support this week. Bulls kept the price beyond the level over last week’s closing, but the narrative seems to fail now. Meanwhile, a close beneath the level will attract downtrends. The altcoin can start Monday with continuous dips, sliding to record a 17% fall to $0.50 towards next week’s trading sessions.
Ripple bulls may step up at such price zone due to historical value in March and June last year. As the current sentiment receives an attack from several headwinds, XRP can decline further to explore February lows of $0.36. Bulls may fail to resist the fall and may step up around lower levels of $0.40.
Meanwhile, the weekend might mean a chance for investors to evaluate Ripple’s latest actions and allow the dust to settle. That may presume investors are involved in the token as we await the new trading weeks, and they already catalyze upside price actions. Though the alt would take time, it might return to levels of $0.80 near 55-day SMA if investors execute massive volumes to the rally.
Ripple bears appear to dominate as the cross-border token fails to respect its earlier support. The altcoin might crash 17% to explore value zones at $0.50 next week.
For now, XRP has to keep its price moves beyond the monthly SS1 barrier at $0.60. Will the narrative shift over the weekend? We may have to wait for the upcoming actions. Stay around for the latest developments in the crypto space.