empty
24.05.2021 12:58 PM
Ripple price analysis for 24 May
  • There seems to be no end for bearish Ripple price analysis as XRP crashes again
  • The XRP/USD is slumping to touch fresh new lows as the pair touched $0.6510
  • The Ripple bulls are struggling to recover from the bearish saga amid challenging times
  • Even positive news from Ripple vs. SEC legal battle did not lift the bearish mood

This image is no longer relevant

The hopes of recovery in XRP/USD are fading fast as the pair plummets to fresh new lows near $0.6510. The bulls are in no mood to stage a comeback rally as the pair slides to new yearly lows from an earlier high of $1.5. The violent drop in the price is threatening to shatter long-term support levels, leading to a bearish outlook on the weekly Ripple analysis charts.

The ripple effect can last for days as the bears are adamant about taking the price below the $0.6000 level. The possibility of price going even deeper cannot be ruled out amidst the thin weekend liquidity. Multiple crashes in the price are causing the Ripple to create a lower low pattern on the hourly Ripple price analysis charts.

Ripple can see a minor recovery rally since all the technical indicators are extremely oversold. Some relief rally is on the cards. However, the price is unlikely to cross $1.00 since there is huge selling pressure near the $0.9635 level. Some crucial support and resistance levels are still untested. Further ahead, the $1.0315 level will also pose a significant challenge to the bulls as per Ripple price analysis.

There is not much support from the broader crypto market due to the negative sentiment. Barring an extended bullish rally, XRP/USD will not cross $1.00 anytime soon. The pair can slide below $0.70 levels if the bears cannot defend the $0.6500 support level.

Jan Novotny,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Jan Novotny
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

EUR/USD Forecast for October 21, 2025

On Monday, the euro failed to hold above the MACD line—the day closed with a black candlestick below this line, although there has been no firm consolidation yet. Tuesday began

Laurie Bailey 04:55 2025-10-21 UTC+2

GBP/USD Forecast for October 21, 2025

On Monday, trading volume in the British pound was below average. While the price did not rise, it also showed no eagerness to decline. It is clear that the market

Laurie Bailey 04:55 2025-10-21 UTC+2

Trading Signals for BITCOIN for October 20-23, 2025: sell below $112,500 (21 SMA - 4/8 Murray)

Bitcoin is recovering rapidly after reaching the key low of 103,501, which coincided with a sharp drop from the October 10th low, forming a double bottom pattern. Bitcoin

Dimitrios Zappas 16:05 2025-10-20 UTC+2

Trading Signals for EUR/USD for October 20-23, 2025: sell below 1.1750 (GAP - 8/8 Murray)

Early in the American session, the euro is trading around 1.1655, below the 200 EMA, and below the 21 SMA under bearish pressure as the euro failed to consolidate above

Dimitrios Zappas 15:58 2025-10-20 UTC+2

Trading Signals for GOLD for October 20-23, 2025: buy above $4,290 (21 SMA - 61.8%)

Gold is trading around 4,293 with a strongly bullish bias. It is likely that the yellow metal will continue to rise in the coming hours to reach the 61.8% Fibonacci

Dimitrios Zappas 15:56 2025-10-20 UTC+2

EUR/USD Forecast on October 20, 2025

On Friday, the EUR/USD pair rebounded from the 38.2% Fibonacci retracement level at 1.1718, turned in favor of the U.S. dollar, and fell to the support zone 1.1645–1.1656. A rebound

Samir Klishi 11:05 2025-10-20 UTC+2

GBP/USD Forecast on October 20, 2025

On the hourly chart, the GBP/USD pair on Friday rebounded from the 76.4% Fibonacci retracement level at 1.3460 (red dashed line), reversed in favor of the U.S. dollar, and fell

Samir Klishi 10:15 2025-10-20 UTC+2

GBP/USD. Technical Analysis for the Week of October 20–25

Last week, the pair moved downward, reaching the support level at 1.3270 (blue dashed line), and then turned upward, closing the weekly candle at 1.3429. In the coming week

Stefan Doll 10:09 2025-10-20 UTC+2

EUR/USD. Technical Analysis for the Week of October 20–25

Last week, the pair moved upward and tested the 14.6% retracement level at 1.1718 (blue dashed line), after which the price turned downward, closing the weekly candle at 1.1650

Stefan Doll 10:04 2025-10-20 UTC+2

Forex forecast 20/10/2025: EUR/USD, GBP/USD USD/JPY, USD/CHF, USD/CAD, Gold and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:02 2025-10-20 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.