Daily

<p>Ripple has undergone another sharp drop, breaking below the critical 100-day moving average of $0.53.</p>
<p>This breakdown underscores the bearish outlook for the asset, with the price likely to continue its downtrend after a period of temporary consolidation.</p>
<h2 id="xrp-analysis">XRP Analysis</h2>
<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>
<h3 id="the-daily-chart">The Daily Chart</h3>
<p>A closer look at the daily chart shows that Ripple faced significant selling pressure, leading to a break below the crucial 100-day moving average at $0.53. The breach of the 100- and 200-day moving averages indicates a strong bearish signal, affirming the dominance of sellers in the market. Ripple is retracing toward the broken MA, attempting to complete a pullback.</p>
<p>If sellers regain control at this level, XRP is expected to continue its downward trend toward the $0.48 support zone. A consolidation phase between the $0.48 support and the $0.54 resistance is anticipated in the mid-term.<a href="https://cryptopotato.com/wp-content/uploads/2024/09/XRP-D-2.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a></p>
<h3 id="the-4-hour-chart">The 4-Hour Chart</h3>
<p>On the 4-hour timeframe, Ripple has broken below the lower boundary of a descending wedge pattern, highlighting the prevailing bearish sentiment. The price is now attempting to pull back to the broken trendline, which could confirm the breakout.</p>
<p>Simultaneously, XRP has reached a critical support zone defined by the 0.5 ($0.52) to 0.618 ($0.48) Fibonacci retracement levels, where demand may emerge and temporarily halt the decline.</p>
<p>Ripple is trading within a narrow range, constrained by the 0.5 Fib level and the broken wedge’s lower trendline. A breakout from this range will determine the next move in the short term.<a href="https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-2.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="aligncenter size-full wp-image-358893" src="https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-2.jpg" alt="" width="1835" height="872" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-2.jpg 1835w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-2-300x143.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-2-1024x487.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-2-768x365.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-2-1536x730.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/XRP-4H-2-50x24.jpg 50w" sizes="(max-width: 1835px) 100vw, 1835px"></a></p>
<p>&nbsp;</p>
<p>The post <a href="https://cryptopotato.com/ripple-price-analysis-xrp-needs-to-stay-above-this-key-level-to-avoid-further-declines/" rel="noopener noreferrer nofollow">Ripple Price Analysis: XRP Needs to Stay Above This Key Level to Avoid Further Declines</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Ripple Price Analysis: XRP Needs to Stay Above This Key Level to Avoid Further Declines

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