After sinking to new lows in the June 22 crash, the Ripple XRP price appears to be finding some consolidation for the next leg up. At present, Ripple (XRP) is trading around the $0.632 mark after having reached a high of $0.66 overnight. Although the short-term prediction remains slightly bearish, this price movement could be a consolidation to set a higher low for a bullish move in the next weeks. The $1 price point remains the target here but that still seems to be a long way off, at least for the present. Get FREE Crypto Signals Now! Ripple price seems stuck at $0.65 resistance The resistance level of $0.65 appears to be a sticking point for XRP at present. The June 22 low represented a 70% decline from the late April high of $1.96. Interestingly the 50-week SMA was registered at $0.54. There was also the first oversold reading on the daily RSI since December 2020. So, basically XRP need to close above $0.6 to indicate that it is in bullish mode – something it is quite far from doing. The current bearish tendency in the market as well as a collapse of consumer confidence is also having a negative effect on proceedings. Conversely however, if the price does achieve that daily close, a leg up could ensue with the price rising to around the $0.98 level. After that, the reaching of the $1 psychological level may also be achieved. However, if the 50-day SMA is broken, XRP’s price could spiral all the way down to the $0.45 level or a 25% drop from current price. This rather depends on market conditions which continue to be bearish. However, an upside is much more likely if the 50-day SMA holds. Long Term Forecast: Will The Price Turn? Ripple has been in descending mode for quite a long time now. The late April price point of $1.96 had many long term hodlers hoping that it would finally regain the $3 level from 3 years ago. That however was a cruel illusion and after reaching the $1.95 level on April 15, it crashed all the way down to $1.04 a few days later. After another climb to the $1.60 level on 18 May, another 30% crash resulted on 19 May for the price to descend to $1.05 again. The Ripple price continued decreasing to eventually reach $0.55 on 22 June. This means that the recent rise is around 15% up from that low and there seems to be strong support at the $0.50 mark. All depends on whether Ripple will surpass the $0.65 resistance level and eventually reach the $0.76 mark which is the next line of resistance. Looking to buy or trade Ripple XRP now? Invest at eToro! Buy Ripple XRP Now 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Gerald Fenech Gerald Fenech Freelance journalist and writer with over ten years experience in forex and fintech writing. Specializes in crypto and blockchain View All Post By Gerald Fenech Crypto News share Read Next USD/JPY Forecast: US Dollar Rally Runs Into Selling Pressure Gary McFarlane 5 months After sinking to new lows in the June 22 crash, the Ripple XRP price appears to be finding some consolidation for the next leg up. At present, Ripple (XRP) is trading around the $0.632 mark after having reached a high of $0.66 overnight. Although the short-term prediction remains slightly bearish, this price movement could be a consolidation to set a higher low for a bullish move in the next weeks. The $1 price point remains the target here but that still seems to be a long way off, at least for the present. [su_button url="https://www.forexcrunch.com/visit/learn2trade" style="3d" background="#1d44bb" size="8" center="yes" radius="0"]Get… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.