Trade Analysis & Reviews: 16.06.2021 - Ripple Analysis for 16 June

16.06.2021 11:58 AM

Ripple Analysis for 16 June

Ripple price is expected to fall to $0.85
The closest support level is at $0.83
Ripple price is facing resistance at the $0.87 mark

After finally climbing past the $1.00 mark, Ripple price failed to continue its bullish rally and the price has seen a steady decline to just below $0.87.While the price at press time holds just below $0.87, the bearish pressure is very strong and the price may fall further in the immediate future if the selling continues.

The RSI is currently trading in the neutral zone a little above the 48.00 mark and does not issue a signal. The indicator has been trading in the neutral zone for the past 8 days. At press time the RSI has again had a small spike towards the oversold region suggesting an increasing bearish presence at the current price level.

Traders can expect Ripple price to continue to fall to $0.85 or further below considering the bearish sentiment of today's market, the low price volatility of Ripple price and the fact that the short term and long term indicators are issuing a bearish trend.However traders can expect a bullish rally to challenge th $0.90 as soon as Ripple price hits its support level.

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*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

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