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XRP Price Prediction For March 14
The price of Ripple’s native cryptocurrency, XRP, has been exhibiting a significant bearish divergence over the past few months. The upward momentum of the asset appears to be losing steam as the Relative Strength Index (RSI) on the three-day chart has been forming lower highs alongside the increasing prices.
According to analyst Josh from Crypto World, it would be unreasonable for investors to anticipate any substantial bull runs in the near future. Instead, one may expect short-term bounces, but a sustained upward momentum similar to what we observed in the past does not seem plausible at this moment.
Considering this sentiment and the current market situation, let’s analyze XRP’s price movement on the 8-hour chart. As can be seen on the provided chart, the asset has recently rebounded from a support area and has reached out towards a resistance zone between $2.25 and $2.30. As anticipated, it is now struggling at this level.
If XRP manages to break through the $2.30 resistance mark and close above it, we may potentially witness a continuation up to the range of $2.50-$2.60. However, the next significant resistance area lies between $2.65 and $2.80.
Currently, the asset is stuck in a sideways price movement, unable to find momentum in either direction. The price is moving between $2.25 and $2.30. This scenario offers various trading opportunities for traders. A break below key support levels could signal a short position, while a bounce off support could lead to a long position. Additionally, if the resistance is confirmed, we may observe another opportunity for short-term gains.
As of now, XRP is trading at $2.25 and has seen an increase in value exceeding one percent over the past 24 hours.
Source: https://coinpedia.org/news/xrp-price-prediction-for-march-14/
