bullish

Verge

Daily

<p>Ripple has recently surged to the critical resistance level of $0.65 following a successful pullback to the broken 200-day moving average.</p>
<p>However, a bearish divergence between the price and the RSI indicator suggests that the current upward momentum may face rejection at this critical resistance level in the coming days.</p>
<h1 id="xrp-analysis">XRP Analysis</h1>
<p>By <a href="https://www.linkedin.com/in/shayan-navabi-522107248/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">Shayan</a></p>
<h2 id="the-daily-chart">The Daily Chart</h2>
<p>A detailed examination of the daily chart reveals that Ripple has experienced a bullish surge after successfully pulling back to the broken 200-day moving average (MA) at $0.55. This price action underscores buyers’ dominance in the market, propelling the XRP price to a critical resistance region around $0.63—a level that has previously rejected the cryptocurrency multiple times.</p>
<p>Ripple now finds itself confined within a tight range, with the $0.63 resistance on the upper end and the 200-day MA at $0.55 as significant support.</p>
<p>Given the bearish divergence between the price and the RSI indicator, a rejection at the $0.63 level is anticipated, potentially leading to a decline toward the lower boundary of the range at $0.55.</p>
<figure id="attachment_356097" aria-describedby="caption-attachment-356097" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/XRP-D-4-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a>
 <figcaption id="caption-attachment-356097" class="wp-caption-text">
  Source: TradingView
 </figcaption>
</figure>
<h2 id="the-4-hour-chart">The 4-Hour Chart</h2>
<p>On the 4-hour chart, XRP surged from the critical region between the 0.5 ($0.52) and 0.618 ($0.48) Fibonacci retracement levels, entering a crucial price range defined by the $0.55 support and the multi-month resistance zone at $0.63.</p>
<p>Currently, it is struggling to break through the upper boundary at $0.63, showing low volatility and weakening bullish momentum. As a result, a short-term rejection is likely, with a potential decline toward the key $0.55 support region.</p>
<p>However, if buying pressure intensifies, Ripple could eventually reclaim the $0.63 resistance level, signaling a significant bullish shift and potentially revitalizing market momentum. The price action in the coming days will be critical in determining Ripple’s short-term trajectory.</p>
<figure id="attachment_356096" aria-describedby="caption-attachment-356096" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-4-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="wp-image-356096 size-full" src="https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-4-scaled.jpg" alt="xrp_price_chart_2608242" width="2560" height="1307" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-4-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-4-300x153.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-4-1024x523.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-4-768x392.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-4-1536x784.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-4-2048x1046.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2024/08/XRP-4H-4-50x26.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <figcaption id="caption-attachment-356096" class="wp-caption-text">
  Source: TradingView
 </figcaption>
</figure>
<p>The post <a href="https://cryptopotato.com/ripple-price-analysis-is-xrp-on-the-verge-of-an-imminent-correction-below-0-55/" rel="noopener noreferrer nofollow">Ripple Price Analysis: Is XRP on the Verge of an Imminent Correction Below $0.55?</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Ripple Price Analysis: Is XRP on the Verge of an Imminent Correction Below $0.55?

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