Ripple (XRP) price recently encountered some resistance and remained undecided, making its moves undecided. As a matter of fact, traders who believe that the upward trend has not diminished highlight a few details.
XRP must maintain its level in the $0.45-0.48 range to prevent a decline towards $0.40. As a matter of fact, a decline below the $0.43 level will make a decrease to the $0.40 level possible.
This combination of support levels highlights the importance of the $0.40 level and breaking this level could result in a rapid decline towards $0.30 in the coming weeks. XRP was trading at $0.48 at the time of writing.
An analyst named Egrag Crypto is a technical analyst. made and predicted possible price movements based on various indicators. The analyst remains positive overall and sees current levels as a buying opportunity.
#XRP Time To Pulverize ‘Final Wake UP Line’ (FWUL):
When the @LuxAlgo signals a ‘Buy’ signal & not a Strong Green ‘Buy’ signal then the possibilities of cooling off might be there. Retesting the Fib 0.382
(0.40c) is still in the cards.NEWS CONTINUES BELOWHowever, the Weekly Stoch-RSI… pic.twitter.com/Re7sdbbYlS
— EGRAG CRYPTO (@egragcrypto) April 19, 2023
The analyst said that while the weekly Stoch-RSI is bearish, the Stoch-RSI is not typically an indicator of a market downturn. Instead, he stated that the market will stay within a certain price range and may indicate a period of consolidation or sideways movement.
In such cases, the #RSI is more decisive. We may have some momentum to push above the ‘Final Wake Up Line’ and then drop to retest to confirm as support. This will be the best case scenario. Beware, take these under $1 prices as a life-changing opportunity.
Veteran trader Peter Brandt believes that XRP will trade at $3 by the end of 2023. Egrag, on the other hand, made a much bolder prediction, making a price prediction of $27 at the end of the year.
You can follow the current price action here.