Ripple Forecast: June 2022

Ripple is trading below the 40 cent mark and has shown little tendency to make a strong upward reversal heading into June.

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XRP/USD is trading near the 39 cent level as May prepares to head into the sunset. A bottom below 33 cents was seen in XRP/USD on the 9the of May. Although Ripple was able to recover from the lower depths of this value, XRP/USD remains fragile and its “high” of almost 46 and a half cents which was observed on the 13the of May quickly disappeared. XRP/USD has been steadily declining since this value was seen at the end of the second week of May.

As June prepares to launch, the vast cryptocurrency market remains in a fragile state. XRP/USD as well as its major counterparts are struggling near important support levels. Very few bull speculators seem ready to step into the mix and become solid buyers right now. XRP/USD is struggling near strong support and has shown a real inability to create sustained reversals to the upside.

The 40 cent conjuncture could prove to be an interesting psychological conjuncture for XRP/USD. If Ripple continues to struggle below this value and is unable to break above it and maintain some semblance of positive traction, the long-term downtrend that has been in effect since late March will likely remain difficult to stop. Yes, Ripple serves as a utilitarian digital asset in banking, but much of its value is based on speculative trust. If XRP/USD remains stuck in its bearish trajectory, technical traders may need to heed some rather negative signals.

While XRP/USD trading results have certainly fallen with its major crypto counterparts, Ripple remains in a range of value that is still in its exuberant buying spree of February and early March 2021. Technically, one can perceive that if the bearish momentum continues and XRP/USD breaks the 34 cent mark below, things for Ripple could get worse before they get better.

Ripple Outlook for June

The speculative price range for XRP/USD is 0.23000 to 0.51000.

If the bearish momentum for XRP/USD remains stable and the 38 cent level weakens and the 37 cent mark proves vulnerable, the bearish momentum could intensify. Yes, the broad crypto market remains extremely weak from a sentiment perspective and XRP/USD is certainly feeding on that nervous energy. A test in the second week of May saw Ripple fall below 34 cents and if that were to happen again, the barriers below could quickly disappear.

If XRP/USD continues to consolidate below the 40 cent mark and does not jump above it could be a bad indicator. If the 37 cents were to prove weak and trades suddenly couldn’t penetrate the 38 cents, traders might be inclined to continue their bearish momentum. Price velocity in XRP/USD is generally not as strong as its major counterparts, nevertheless traders should use take profit and stop loss orders to engage properly. Leverage should be used with caution.

For the brave few among cryptocurrency traders who decide to seek out higher price action, XRP/USD has a target of 40 cents looming just ahead of them. If the 40 cent mark can be reversed and held, traders cannot be blamed for chasing 41 and 42 cents. However, before speculators get too bullish, they should note that the 44 and 45 cent junctions appear to be significant resistance levels. Granted, they could be stung higher, but at the moment the jittery sentiment within the vast cryptocurrency market makes those higher values ​​seem miles away.

XRP/USD June 2022 Monthly

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