Ripple price analysis 25 Oct: recovery may take time

Ripple may turn bearish below $1.05

Representative image of Ripple token against a candlestick chart                                 
Learn more about the price of XRP in our Ripple price analysis – Photo: Shutterstock

In the ongoing lawsuit between Ripple and the US Securities and Exchange Commission (SEC), Judge Sarah Netburn in New York approved the SEC’s request and extended the deadline by two months from 12 November 2021 to 14 January 2022.

Judge Netburn wrote that the “additional time sought by the SEC will allow both sides to complete the outstanding fact discovery and properly prepare for expert depositions”.

The extension of the deadline is a minor setback for Ripple because it gives the SEC additional time to analyse Ripple’s recordings – and to answer about 30,000 requests for admissions submitted by Ripple.

Despite the lawsuit, Ripple has continued to build partnerships. Ripple said in a blog post on 20 October that the UAE-based foreign exchange and worldwide money transfer company Al Ansari Exchange has joined RippleNet. In collaboration with the money transfer technology company MoneyMatch, Al Ansari Exchange plans to offer same-day remittances to Malaysia. 

Ripple’s partnership with Tranglo plans to expand RippleNet’s footprint across many corridors in the future. Ripple said that Tranglo has launched its first live on-demand liquidity service on RippleNet in the Philippines, which is Asia’s third largest remittance receiving country. 

Does Ripple price analysis point to a recovery or will the underperformance continue? Will Ripple go up? What do the charts suggest? Read the XRP price analysis to find out.

Ripple technical analysis: weekly chart

Ripple weekly chart analysis for 25 October
Ripple weekly chart analysis for 25 October – Credit:

XRP’s price formed a doji candlestick pattern last week, indicating indecision among bulls and bears. The XRP/USD pair corrected marginally by 1.19% to end the week at $1.08.

The tight range price action of the past two weeks suggests uncertainty, which could result in a trending move. A breakout and close above the downtrend line will be the first sign of strength. 

The pair could then rise to $1.41, which may again act as a stiff resistance. If the bulls clear this hurdle, the upmove could extend to the overhead resistance zone of $1.75 to $1.95.

This positive view will be negated if XRP’s price turns down from the current level and plummets below the 20-week exponential moving average (EMA). Such a move could pull the pair down to the 50-week simple moving average (SMA).

Ripple technical analysis: daily chart

Ripple daily chart analysis for 25 October
Ripple daily chart analysis for 25 October – Credit:

XRP’s price action of the past few days has formed a descending triangle pattern that will complete on a break and close below $1.05. If that happens, the XRP/USD pair could drop to the $0.88 to $0.85 support zone.

On the other hand, if the price rebounds off the current level, the bulls will try to push the pair above the resistance line. Such a move could invalidate the bearish setup, which is a bullish sign.

The bears may again pose a stiff challenge at the downtrend line, but if the bulls overcome this obstacle, the pair could start a new upmove.

If the price turns down from the downtrend line, the pair could remain stuck in a range for a few days. The flattish moving averages and the relative strength index (RSI) near the midpoint does not signal a clear advantage either to the bulls or the bears.

Ripple buy or sell at current levels

The Ripple price analysis suggests a balance between supply and demand. The short-term trend could turn negative on a break and close below $1.05 and result in a decline to $0.88. This bearish view will invalidate if bulls push the price above the resistance line.

Whatever the outcome might be, your decision to trade depends on your attitude to risk, your expertise in this market, the spread of your investment portfolio and how comfortable you are about losing money. This analysis does not constitute investment advice. It’s important to make your own analysis before deciding to invest. You should never invest more than you can afford to lose.

Ripple to US Dollar
Daily change
Low: 0.95753
High: 0.98716

Further reading

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