The post <a href="https://coinpedia.org/price-analysis/as-buyers-struggle-to-hold-xrp-price-is-a-crash-coming-soon/" rel="noopener noreferrer nofollow">As Buyers Struggle To Hold XRP Price, Is A Crash Coming Soon?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The speculations-driven rally testing the $0.70 neckline fails to assert bullish dominance over the supply zone, leading to a sharp fall in the XRP price. As the buyers fail, the sudden increase in supply pressure plunges the price of Ripple to $0.60.
Moreover, the pullback phase crashes the dream of a rounding bottom breakout, but the buying activity at lower levels teases a comeback. Therefore, the <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" rel="noopener noreferrer nofollow">Ripple price prediction</a> keeps a bullish perspective for the rest of 2023 and remains optimistic for a bull run to $1.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="463" src="https://image.coinpedia.org/wp-content/uploads/2023/11/24110909/XRPUSD_2023-11-24_10-33-17-1024x463.png" alt="" class="wp-image-248156" srcset="https://image.coinpedia.org/wp-content/uploads/2023/11/24110909/XRPUSD_2023-11-24_10-33-17-1024x463.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/11/24110909/XRPUSD_2023-11-24_10-33-17-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/11/24110909/XRPUSD_2023-11-24_10-33-17-768x348.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/11/24110909/XRPUSD_2023-11-24_10-33-17-1536x695.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/11/24110909/XRPUSD_2023-11-24_10-33-17-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/11/24110909/XRPUSD_2023-11-24_10-33-17.png 1825w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Source – <a href="https://www.tradingview.com/x/zmRpNTlW/" rel="noopener noreferrer nofollow">Tradingview</a>
In the 1-Day chart, the falling XRP price from the $0.70 supply zone takes support at the 50-day EMA. The downtrend accounts for a 13% discount in the last 15 days, leading to a falling channel pattern.&nbsp;
With the buyers sustaining dominance over the 50D EMA, the Ripple trend bounces back and sustains above the $0.60 mark. Further, the uptrend eyes challenge the overhead supply at $0.70 for the third time in the past 6 months.&nbsp;
The bullish recovery from the 50D EMA teases a bullish continuation pattern called as the cup and handle pattern in the 1D chart. With a neckline coinciding with the $0.70 supply zone, the sideline buyers anticipate a bull run to $1, if buyers manage to push through it.
Currently, the XRP price is trading at $0.623 and challenges the overhead trendline of the short-term falling channel.&nbsp;
Technical Indicators:
MACD indicator: The MACD and signal lines show some signal of bullish reversal and tease a positive crossover. With the declining trend in bearish histograms, the momentum indicator projects a high likelihood of a bullish comeback.&nbsp;
EMA: The bullish support at the 50D EMA turns the tide upwards and helps sustain the XRP price above $0.60.
<h2 class="wp-block-heading" id="h-will-the-xrp-price-reach-1">Will The XRP Price Reach $1?</h2>
In the short-term viewpoint, the falling channel breakout will prove crucial in further predictions of a bull run. This is because the channel breakout will increase the likelihood of a cup and handle breakout with a neckline at $0.70. Once the breakout rally crosses $0.70, the chances of a price jump to $1 will improve significantly.&nbsp;
Conversely, a reversal within the channel or from $0.70 can result in a drop to the $0.58-$0.60 mark.&nbsp;

As Buyers Struggle To Hold XRP Price, Is A Crash Coming Soon?

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