CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino
coinpedia 2025-03-20 05:07:28

XRP Price Prediction For March 20

The post XRP Price Prediction For March 20 appeared first on Coinpedia Fintech News In a major development for Ripple and its token XRP, the U.S. Securities and Exchange Commission (SEC) has officially dropped its appeal in the ongoing legal battle with Ripple Labs. CEO Brad Garlinghouse confirmed the news and celebrated the decision, marking a key victory for Ripple. Following the announcement, XRP saw a price surge, gaining more than 10% and peaking at $2.57. However, the excitement was short-lived, with the price now stabilizing at $2.47 as the market adjusts. According to analyst Josh of Crypto World, as of now, XRP continues to experience a larger bearish divergence on the 3-day time frame. This trend has been actively playing out for several months, with a consistent expectation of limited bullish momentum. While short-term price action may show occasional bullish moves, the overall technical outlook suggests that XRP is unlikely to see upward momentum anytime soon. Short-Term Positive Price Action: A Bounce from Key Support XRP has bounced off a previous resistance level and successfully flipped it into new support. This is a positive price structure, indicating that the market may see short-term recovery. The key support zone for XRP is between the $2.25–$2.30 range. The fact that XRP has held this level and bounced from it suggests some stability in the short-term outlook. Resistance Levels to Watch As XRP pushes higher, the next resistance to watch lies in the $2.60–$2.80 range. Previous resistance levels in this range will likely continue to exert downward pressure. Specifically, the $2.65 and $2.80 levels will be critical for determining whether XRP can maintain momentum beyond this point. Additionally, if XRP breaks through these resistance zones, the $3 mark will likely be the next major hurdle. RSI Indicator: Potential Overbought Conditions Ahead? The Relative Strength Index (RSI) is an important tool to watch during this rally. Right now, the RSI is getting close to overbought levels, which suggests XRP may be near its peak for the short term. In the past, when the RSI reached these levels, it often led to a small price drop. While there’s still some room for XRP to rise, the increasing RSI may signal it’s approaching a resistance point, which could cause the price to cool down. Bitcoin’s Influence on XRP Price Movement XRP’s price is also closely tied to Bitcoin’s movements. If Bitcoin continues to see bullish momentum, XRP is likely to follow suit with positive price action. However, if Bitcoin experiences a decline, XRP may also face downward pressure.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.