Ripple Price Prediction: XRP Bounces Above $0.50, But Will A Huge Dump Follow?

In late August, Ripple fell below its 200-day moving average. In the following days, it experienced a rebound and rallied back toward the 200-day MA. Market sentiment appears to be bearish, suggesting a pullback is in progress.

Here is the Daily chart

The daily chart shows a strong downtrend followed by several weeks of consolidation. The consolidation followed a rapid rally above the 200-day moving average (MA) in mid-August. Ripple‘s price displayed low volatility during this consolidation period. Over time, however, the price fell below the 200-day MA, which was $0.51.

Most people consider the 200-day MA a key support or resistance level. As a result of the price dropping below it, the prevailing bearish sentiment in the market is evident, with a potential downward trend continuing.

The overall outlook for Ripple remains highly bearish despite the modest upward retracement to the breached MA. The next target will likely be the critical support zone at $0.42. The 200-day MA must not be reclaimed if the pullback continues.

Four-Hour Chart

We can observe a well-defined multi-month downtrend in Ripple’s price on the 4-hour chart. This trend is characterized by the near-constant drop in highs and lows, which emphasizes the strength of the bearish movement.

Recently, however, there has been a notable development. After breaking above the downtrend line and pulling back, the price has surpassed its previous swing high, creating a new higher high.

Price action in this market has temporarily shifted the trend and brought the price closer to the 200-day moving average (MA), potentially setting up a pullback toward it.

It may signal another bearish move if the price faces rejection around this crucial price range and starts to decline.

In contrast, the scenario could shift toward bullish if buyers push the price above this critical threshold and sustain upward momentum. A breakout will only be confirmed if the price retraces and retests the breached moving average, forming a pullback. This scenario could result in the price moving towards higher levels, with a surge possible to $0.55. Keeping an eye on these price fluctuations as market dynamics change is fundamental.

XRP Alternative

We are building a Web3 platform with AI capabilities to guide investors in making informed decisions. Cryptocurrency traders have shown considerable interest in their native token, $LPX.

With nearly a hundred cryptocurrencies emerging daily and thousands on the market, choosing the right investment can be challenging. Due to this, most investments are dominated by seasoned investors, leaving little opportunity for beginners.

Through Launchpad XYZ, novices and experts can gain access to essential information about cryptocurrencies. Various Web3 services, including non-fungible tokens (NFTs) and AI-driven trading, can be accessed through the platform.

Web3’s development team strives to demystify the technology by creating an interactive interface and providing a wealth of information that is easy to access. Launchpad XYZ empowers users with practical methods and decision-making frameworks, allowing them to control their trades completely.

Users will no longer rely on Twitter or Telegram groups for trading decisions. Using Launchpad XYZ, users can make well-informed choices based on realistic analysis instead of depending on external information that might be manipulative.

The Launchpad XYZ platform offers various valuable features that can be accessed through the $LPX tokens currently available during the presale. The presale has already raised over $1.7 million.

Tired of scams and empty promises? #LaunchpadXYZ is here to help 🙌

Over $1.7M raised in our #Presale and we’re just getting started 🚀

Secure your $LPX bonus today 💪https://t.co/ZUZaIKgy84#Crypto #Web3 #Altcoins #Trade pic.twitter.com/P49sW2S0KE

— Launchpad.xyz (@launchpadlpx) September 19, 2023

We encourage investors to take advantage of the remaining presale period, anticipating exciting developments. As a cryptocurrency with high growth potential, $LPX is rightly regarded as an upcoming coin. Soon, the $LPX token will be listed on reputable exchanges, likely increasing its price.

Users will benefit from the seamless integration of features like the Launchpad feed, a token directory, a metaverse library, an NFT directory, and a gaming hub following this phase. We have a guide on how to buy $LPX tokens here.

This year, Launchpad XYZ plans to launch a decentralized exchange and presale directory and offer educational resources to users. Launchpad Quotient and a trading terminal are among the upcoming features.

A gaming hub and an NFT DEX will be developed in the future. The Launchpad XYZ roadmap is gradually unfolding and is expected to deliver all the features investors expect. Investing during the presale phase can yield significant benefits when these features are considered. Make a $LPX investment at Launchpad.xyz.

Related: