Long

Ripple’s price has been consolidating in a very tight range in the last few days, and it has yet to give any indication of its future direction.
By Edris Derakhshi (TradingRage)
<h3 id="b-the-usdt-paired-chart-b">The USDT Paired Chart</h3>
On the USDT paired chart, the price has recently experienced a massive drop from the $0.65 level, breaking below the 200-day moving average, which is located near the $0.55 mark.
Over the last week, the market has been moving sideways below the 200-day moving average and has failed to break back above it.
As the structure suggests, a further decline toward the key $0.5 support level is likely in the short term. Yet, a rebound could still be expected from that area.
<figure id="attachment_365227" aria-describedby="caption-attachment-365227" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/XRPUSDT-4H-Oct-9-2024-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a>
 <figcaption id="caption-attachment-365227" class="wp-caption-text">
 Source: TradingView
 </figcaption>
</figure>
<h3 id="b-the-btc-paired-chart-b">The BTC Paired Chart</h3>
The BTC paired chart is in a similar condition.
The market has failed to rise above the 1000 SAT mark and is currently testing the 800 SAT support level and the 200-day moving average, located around the same price.
If these levels are broken to the downside, a drop toward 650 SAT could be expected in the coming weeks.
On the other hand, a rebound from the 800 SAT area could lead to a rally toward the 1,200 SAT, but this scenario is far less probable than the bearish one.
<figure id="attachment_365228" aria-describedby="caption-attachment-365228" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/XRPBTC-Daily-Oct-9-2024-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="wp-image-365228 size-full" src="https://cryptopotato.com/wp-content/uploads/2024/10/XRPBTC-Daily-Oct-9-2024-scaled.jpg" alt="xrp_price_chart_0910242" width="2560" height="1307" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/XRPBTC-Daily-Oct-9-2024-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2024/10/XRPBTC-Daily-Oct-9-2024-300x153.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/10/XRPBTC-Daily-Oct-9-2024-1024x523.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/10/XRPBTC-Daily-Oct-9-2024-768x392.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/10/XRPBTC-Daily-Oct-9-2024-1536x784.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/10/XRPBTC-Daily-Oct-9-2024-2048x1046.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2024/10/XRPBTC-Daily-Oct-9-2024-50x26.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <figcaption id="caption-attachment-365228" class="wp-caption-text">
 Source: TradingView
 </figcaption>
</figure>
The post <a href="https://cryptopotato.com/ripple-price-analysis-calm-before-the-storm-for-xrp-following-long-consolidation/" rel="noopener noreferrer nofollow">Ripple Price Analysis: Calm Before the Storm for XRP Following Long Consolidation?</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Ripple Price Analysis: Calm Before the Storm for XRP Following Long Consolidation?

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