Daily

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ripple-tests-key-market-levels" data-wpel-link="internal">Ripple Tests Key Market Levels</a><br></p>
<p style="text-align: justify">In the cryptocurrency market, a slight recovery in the last 24 hours is noticeable. Ripple, closely tracked by numerous <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">investors</a>, is currently in a long-term consolidation phase near a crucial support zone with minimal volatility and subtle movements. A near-term breakout is likely to indicate the upcoming trend for <a href="https://en.bitcoinhaber.net/xrp-continues-to-attract-whale-activity-amid-price-movement" data-wpel-link="internal">XRP</a>.</p> 
<h2 id="what-does-the-xrp-daily-chart-show">What Does the XRP Daily Chart Show?</h2> 
<p style="text-align: justify">Analysis of the daily chart for XRP 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 this range aligns with the 100-day and 200-day moving averages, making it a decisive supply level and acting as strong resistance.</p> 
<p style="text-align: justify">Currently, Ripple’s price hovers around $0.47, the lower boundary of the triangle, nearing the narrow range of the pattern with minimal volatility. This situation reflects a balance between buyers and sellers, indicating a potential imminent breakout. The direction of this breakout is likely to determine Ripple’s mid-term trend.</p> 
<h2 id="how-does-the-4-hour-chart-influence-xrp-s-trend">How Does the 4-Hour Chart Influence XRP’s Trend?</h2> 
<p style="text-align: justify">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 suggests a bearish trend in the market, leading to pullbacks and volatility as sellers maintain dominance.</p> 
<p style="text-align: justify">Conversely, the price formed a rising flag pattern, signaling the continuation of the previous downtrend. XRP’s price is approaching a critical junction at the lower boundary of the rising flag pattern, aligned with the crucial support level of $0.47.</p> 
<h2 id="valuable-insights-for-investors">Valuable Insights for Investors</h2> 
<ul> 
 <li>Monitor the $0.47 support level closely, as a breakdown could lead to a further drop to $0.42.</li> 
 <li>Watch for potential legal updates between the SEC and Ripple Labs, as these could significantly impact XRP’s price.</li> 
 <li>Keep an eye on the 100-day and 200-day moving averages to gauge resistance levels and potential price reversals.</li> 
</ul> 
<p 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> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ripple-tests-key-market-levels" data-wpel-link="internal">Ripple Tests Key Market Levels</a></h5>

Ripple Tests Key Market Levels

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