Ripple (XRP) Price Predictions for This Week (June 9)
XRP is down 8% on the weekly chart as bears just tested support at $1. 6, $2 Price Hits $1 In the past week, XRP fell to $1 after sellers took over the price action. 18.
Given that XRP made a lower low and the downtrend was reconfirmed, there is a high chance the current support will come under significant pressure in the future. 80. Source: TradingView Sell Volume Increases With this latest move, the sell volume made a higher high not seen since early February when the price nearly hit $1 as well.
This reconfirms the bearish bias because it shows sellers have conviction. The biggest question is if XRP can hold here or if it’s just a matter of time before $1 also turns into resistance as the price seeks lower levels to attract buyers. However, this could take some time since the chart looks oversold right now.
Source: TradingView Daily RSI Oversold With this latest price drop, the daily RSI reached oversold territory after falling below 20. This suggests that sellers may have become greedy here and could be punished with a more sustained bounce before they regain control. The moving average on this indicator is also falling.
This suggests the RSI could reach oversold levels again later. If at that point it makes a higher low, that could signal a major reversal will follow. Source: TradingView The post Ripple (XRP) Price Predictions for This Week (June 9) appeared first on CryptoPotato .
