Daily

<p>Ripple&#8217;s price is currently hovering near a crucial support region which consists of both the 200-day moving average and the $0.41 price zone. A breach below this critical level could potentially trigger a significant downturn toward the descending trendline.</p>
<h2 id="technical-analysis">Technical Analysis</h2>
<p>By <a href="https://twitter.com/greatest_trader" data-wpel-link="external" target="_blank">Shayan</a></p>
<h3 id="the-daily-chart">The Daily Chart</h3>
<p>On the daily chart, it’s apparent that after the recent weeks of rejection, the price has arrived at a strong support area at the 200-day moving average of $0.41. Considering the power of this moving average, XRP may enter a consolidation phase.</p>
<p>However, if the price fails to hold above this crucial support zone, it could trigger a cascade leading to bearish sentiment over the market. Conversely, if the cryptocurrency finds support at the 200-day moving average, buyers can hope for a mid-term uptrend toward the $0.56 resistance level.</p>
<figure id="attachment_250389" aria-describedby="caption-attachment-250389" style="width: 2708px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/05/XRP-Dailly.png" data-wpel-link="internal"><img class="wp-image-250389 size-full" src="https://cryptopotato.com/wp-content/uploads/2023/05/XRP-Dailly.png" alt="xrp_price_chart_1205231" width="2708" height="1466" srcset="https://cryptopotato.com/wp-content/uploads/2023/05/XRP-Dailly.png 2708w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-Dailly-300x162.png 300w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-Dailly-1024x554.png 1024w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-Dailly-768x416.png 768w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-Dailly-1536x832.png 1536w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-Dailly-2048x1109.png 2048w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-Dailly-50x27.png 50w" sizes="(max-width: 2708px) 100vw, 2708px" /></a><figcaption id="caption-attachment-250389" class="wp-caption-text">Source: TradingView</figcaption></figure>
<h3 id="the-4-hour-chart">The 4-Hour Chart</h3>
<p>On the 4-Hour Chart, Ripple&#8217;s price has formed an ascending channel. The recent rejection has caused it to drop below the minor support level of $0.48 and the channel&#8217;s mid-trend line. Currently, the price faces a crucial support level at $0.41.</p>
<p>In summary, this PA is supportive of a potential consolidation stage around the mentioned support area until a breakout occurs. However, it&#8217;s important to see how the price will actually react, as this would probably give us a clue about the short-term trend.</p>
<figure id="attachment_250388" aria-describedby="caption-attachment-250388" style="width: 2560px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/05/XRP-4H-5-scaled.jpg" data-wpel-link="internal"><img class="wp-image-250388 size-full" src="https://cryptopotato.com/wp-content/uploads/2023/05/XRP-4H-5-scaled.jpg" alt="xrp_price_chart_1205232" width="2560" height="1386" srcset="https://cryptopotato.com/wp-content/uploads/2023/05/XRP-4H-5-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-4H-5-300x162.jpg 300w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-4H-5-1024x554.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-4H-5-768x416.jpg 768w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-4H-5-1536x832.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-4H-5-2048x1109.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-4H-5-50x27.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px" /></a><figcaption id="caption-attachment-250388" class="wp-caption-text">Source: TradingView</figcaption></figure>
<p>The post <a href="https://cryptopotato.com/xrp-tumbles-8-weekly-but-is-a-crash-below-0-4-imminent-ripple-price-analysis/" rel="nofollow">XRP Tumbles 8% Weekly but is a Crash Below $0.4 Imminent? (Ripple Price Analysis)</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.</p>

XRP Tumbles 8% Weekly but is a Crash Below $0.4 Imminent? (Ripple Price Analysis)

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