bullish

Daily

<p>Ripple has presented a solid bearish signal by breaking below the 200-day moving average of $0.55, highlighting the presence of sellers in the market.</p>
<p>However, the price is now battling to breach the 100-day MA at $0.53, and a successful break below this level could trigger a significant decline 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 close analysis of the daily chart reveals that Ripple has been hovering near the critical 200-day moving average at $0.55, and recently, it slipped slightly below this level. Now, the price is at a pivotal support region, defined by the 100-day moving average of $0.53, which acts as a key barrier.</p>
<p>The overall daily outlook will become bearish if Ripple breaks below this level. If buyers defend this zone and hold the price above both daily MAs, there’s a chance for a bullish reversal. However, based on the current price action, a break below $0.53, leading to further decline, seems more likely.</p>
<figure id="attachment_358545" aria-describedby="caption-attachment-358545" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/09/XRP-D-1-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a>
 <figcaption id="caption-attachment-358545" 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, Ripple remains within a crucial range, with support at $0.53 and resistance around $0.64. The current price action suggests that sellers are increasingly interested in breaking below the $0.53 support zone, which could lead to a significant price drop.</p>
<p>Ripple is currently testing this lower boundary, and a break below it, along with the wedge’s lower boundary, may trigger a liquidation event, pushing the price lower.</p>
<p>In this case, the next downside target lies between the 0.5 and 0.618 Fibonacci retracement levels. Alternatively, if buyers step in and defend the $0.53 level, a rebound toward the $0.60 mark could follow.</p>
<figure id="attachment_358544" aria-describedby="caption-attachment-358544" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-1-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="wp-image-358544 size-full" src="https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-1-scaled.jpg" alt="xrp_price_0609242" width="2560" height="1372" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-1-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-1-300x161.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-1-1024x549.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-1-768x411.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-1-1536x823.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-1-2048x1097.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-1-50x27.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <figcaption id="caption-attachment-358544" class="wp-caption-text">
  Source: TradingView
 </figcaption>
</figure>
<p>The post <a href="https://cryptopotato.com/more-pain-for-xrp-likely-as-sellers-target-0-5-ripple-price-analysis/" rel="noopener noreferrer nofollow">More Pain for XRP Likely as Sellers Target $0.5: Ripple Price Analysis</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

More Pain for XRP Likely as Sellers Target $0.5: Ripple Price Analysis

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