Crash

bullish

Daily

<p>Ripple has recently encountered significant selling pressure near the $0.65 resistance zone, triggering a sharp decline.</p> 
<p>This movement signals a potential shift toward bearish dominance as the price breaks below the ascending wedge pattern’s lower boundary. XRP may continue its descent toward the $0.5 threshold in the coming sessions.</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">Shayan</a></p> 
<h2 id="the-daily-chart">The Daily Chart</h2> 
<p>On the daily chart, XRP surged towards the ascending wedge’s upper boundary and the primary resistance zone of $0.65, only to face substantial rejection.</p> 
<p>This area, aligning with previous swing highs, is a formidable resistance level and has halted further price increases in recent months. Following the rejection, Ripple entered the crucial price range of $0.5-$0.55, where short-term consolidation is likely to occur.</p> 
<p>Given the break below the ascending wedge’s lower trendline, a bearish continuation is expected. If XRP attempts a pullback to retest the broken wedge, the price could face more selling pressure, potentially driving it toward lower thresholds, particularly the $0.5 support level.</p> 
<figure id="attachment_364352" aria-describedby="caption-attachment-364352" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2024/10/XRP-D-scaled.jpg" data-wpel-link="internal"><img class="wp-image-364352 size-full" src="https://cryptopotato.com/wp-content/uploads/2024/10/XRP-D-scaled.jpg" alt="xrp_price_chart_0410241" width="2560" height="1307" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/XRP-D-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-D-300x153.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-D-1024x523.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-D-768x392.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-D-1536x784.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-D-2048x1046.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-D-50x26.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <figcaption id="caption-attachment-364352" class="wp-caption-text">
  Source: TradingView
 </figcaption>
</figure> 
<h2 id="the-4-hour-chart">The 4-Hour Chart</h2> 
<p>The 4-hour chart reveals a false breakout after Ripple briefly surpassed the $0.65 level. This move brought in substantial demand, but the surge was met with intense selling pressure, leading to a sharp reversal.</p> 
<p>XRP’s price quickly fell back inside the flag pattern from which it had broken out.</p> 
<p>Currently, the cryptocurrency is testing a critical support region marked by the flag’s lower trendline and the Fibonacci retracement levels of 0.5 ($0.52) and 0.618 ($0.48). This range is expected to hold the price temporarily, leading to a potential short-term bullish corrective move and sideways consolidation before the next major trend direction is established.</p> 
<figure id="attachment_364351" aria-describedby="caption-attachment-364351" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2024/10/XRP-4H-scaled.jpg" data-wpel-link="internal"></a>
 <figcaption id="caption-attachment-364351" class="wp-caption-text">
  Source: TradingView
 </figcaption>
</figure> 
<p>The post <a href="https://cryptopotato.com/ripple-price-analysis-is-xrp-headed-to-a-crash-below-0-50/" rel="nofollow">Ripple Price Analysis: Is XRP Headed to a Crash Below $0.50?</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.</p>

Ripple Price Analysis: Is XRP Headed to a Crash Below $0.50?

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