Ripple [XRP] Price Analysis 28/09/2020

Ripple [XRP] Price Analysis: Bearish below $0.25, XRP Foundation Launched

The Ripple price is steady but still under the bear influence judging from price action in the daily chart.

At the time of writing, the XRP price was trading at $0.244, down two percent in the last trading week against the USD. However, bulls are outdoing ETH, gaining three percent within the same period.

Candlestick arrangement in the daily chart suggest weakness but it could quickly swing to bullish. Notably, prices are still trading right at the 20-day moving average—or the middle BB. Moreover, although prices reversed from Sep 2020 lows, the reversal was with low participation.

Going forward, a sharp break above Sep 21 highs of $0.25 complete with high trading volumes preferably exceeding Sep 21 could see the Ripple price rallying to $0.30 in the medium term.

Losses below $0.23 could trigger a bear run back to $0.20 or $0.17.

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