Resistance

Daily

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ripple-faces-critical-support-and-resistance-levels/" data-wpel-link="internal">Ripple Faces Critical Support and Resistance Levels</a><br></p>
<p class="p1" style="text-align: justify">In the <a href="https://en.coin-turk.com/us-treasury-sanctions-entities-for-aiding-sanction-evasion-through-crypto/" data-wpel-link="internal">cryptocurrency market</a>, a slight recovery in the last 24 hours is noticeable, and Ripple, closely watched by many <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>, is currently in a long-term consolidation phase, hovering near a decisive support zone with minimal volatility and slight movements. A near-term breakout is likely to indicate the upcoming trend for XRP.</p> 
<h2 class="p1" style="text-align: justify" id="xrp-daily-chart-analysis">XRP Daily Chart Analysis</h2> 
<p class="p1" style="text-align: justify"><strong>XRP</strong> daily chart analysis reveals that Ripple’s price is consolidating between significant support at $0.47 and critical resistance at $0.55, forming a sideways triangle pattern. The upper boundary of the range aligns with the 100-day and 200-day moving averages, making it a decisive supply level and continuing to act as strong resistance.</p> 
<p class="p1" style="text-align: justify">The price is currently hovering around $0.47, the lower boundary of the triangle, approaching the narrow range of the pattern with minimal volatility. This process indicates a balance between buyers and sellers and continues to signal an imminent breakout. The direction of this breakout is likely to determine Ripple’s mid-term trend.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-364344 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/xrp.webp" alt="" width="1532" height="728"></p> 
<h2 class="p1" style="text-align: justify" id="xrp-4-hour-chart-analysis">XRP 4-Hour Chart Analysis</h2> 
<p class="p1" style="text-align: justify">The recent price action on the four-hour chart shows a breakdown below a rising trend line that lasted several weeks, followed by a pullback to the broken level and a subsequent retreat. This development indicates a bearish trend in the market, leading to pullbacks and volatility as sellers maintain dominance.</p> 
<p class="p1" style="text-align: justify">On the other hand, the price typically formed a rising flag pattern, signaling the continuation of the previous downtrend. <strong>XRP</strong> price is approaching a critical junction at the lower boundary of the rising flag pattern, aligned with the critical support level of $0.47.</p> 
<p class="p1" style="text-align: justify">A breakdown below this junction is likely to trigger a gradual effect, with the next target being significant support at $0.42. Additionally, any development in the ongoing legal process between the SEC and Ripple Labs could also affect the XRP price.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-364343 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/xrp-4s.webp" alt="" width="1532" height="728"></p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ripple-faces-critical-support-and-resistance-levels/" data-wpel-link="internal">Ripple Faces Critical Support and Resistance Levels</a></h5>

Ripple Faces Critical Support and Resistance Levels

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