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XRP hits critical support at $0.5, but will bulls finally take control? (Ripple price analysis)
Ripple price has been consolidating over the past few months and has not shown any decisive movement in one direction or the other. The price has failed to break out of the current range, leaving many investors wondering what might happen next. Technical Analysis By: Edris XRP/USDT Daily Chart: XRP was rejected by the $0.6 resistance area, resulting in a pullback. The price is currently finding support at the 50-day moving average around $0.49. If it continues lower, the 200-day moving average is the next support level to watch, which is near the $0.43 level. The price must remain above these support levels as falling below these support levels will have significant...
XRP hits critical support at $0.5, but will bulls finally take control? (Ripple price analysis)
Ripple price has been consolidating over the past few months and has not shown any decisive movement in one direction or the other. The price has failed to break out of the current range, leaving many investors wondering what might happen next.
Technical analysis
From: Edris
XRP/USDT daily chart:
XRP was rejected by the $0.6 resistance area, leading to a pullback. The price is currently finding support at the 50-day moving average around $0.49. If it continues lower, the 200-day moving average is the next support level to watch, which is near the $0.43 level.
The price must remain above these support levels as falling below these support levels would have a significant negative impact. In such a scenario, the cryptocurrency could potentially decline even further.
TradingView
XRP/BTC daily chart
Against Bitcoin, XRP has seen a significant reversal below the resistance level of 2200 SAT. This decline was accompanied by breaks below the 200-day and 50-day moving averages, which occurred around the 1800 SAT level.
The next immediate price target appears to be a short-term retest of the 1500 SAT level.
The RSI indicator has declined rapidly and is approaching the oversold region, suggesting the possibility of consolidation or a possible break in selling pressure in the coming days. However, it is important to closely monitor price action and further developments as the overall outlook for XRP remains bearish on the BTC pair chart.
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