Based

Daily

<p>Ripple failed to breach the $0.55 resistance region and experienced a significant plunge of 26%, arriving at the crucial support level of the 100-day moving average. However, the price is likely to consolidate within this range, encountering significant support.</p>
<h2 id="technical-analysis">Technical Analysis</h2>
<p>By <a href="https://twitter.com/greatest_trader" data-wpel-link="external" target="_blank">Shayan</a></p>
<h3 id="the-daily-chart">The Daily Chart</h3>
<p>On the daily chart, following Ripple&#8217;s rejection from the $0.58 level, its price suffered a massive decline, experiencing a whopping 26% drop. However, XRP is currently confronting significant support regions consisting of the 100-day moving average at $0.43 and the 61.8% Fibonacci retracement level at $0.44.</p>
<p>Considering the strength of these support levels, the price seems likely to enter a consolidation phase followed by high volatility. However, if selling pressure on Ripple pushes the price below the 100-day moving average, another drop could occur, which may flush out many long positions from the derivatives market.</p>
<figure id="attachment_248645" aria-describedby="caption-attachment-248645" style="width: 2560px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/04/XRP-Daily-5-scaled.jpg" data-wpel-link="internal"><img class="wp-image-248645 size-full" src="https://cryptopotato.com/wp-content/uploads/2023/04/XRP-Daily-5-scaled.jpg" alt="xrp_price_chart_3004231" width="2560" height="1386" srcset="https://cryptopotato.com/wp-content/uploads/2023/04/XRP-Daily-5-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2023/04/XRP-Daily-5-300x162.jpg 300w, https://cryptopotato.com/wp-content/uploads/2023/04/XRP-Daily-5-1024x554.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2023/04/XRP-Daily-5-768x416.jpg 768w, https://cryptopotato.com/wp-content/uploads/2023/04/XRP-Daily-5-1536x832.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2023/04/XRP-Daily-5-2048x1109.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2023/04/XRP-Daily-5-50x27.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px" /></a><figcaption id="caption-attachment-248645" 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, the price has formed a descending price channel. The recent rejection caused XRP to drop below the minor support level of $0.48 and consolidate without a clear direction. Presently, it faces two crucial levels: the $0.48 minor resistance zone and the lower trendline of the channel, which is approximately $0.415.</p>
<p>Based on Ripple&#8217;s recent behavior, the market appears to have entered a consolidation stage between $0.415 and $0.48 until a breakout from this range occurs.</p>
<figure id="attachment_248644" aria-describedby="caption-attachment-248644" style="width: 2560px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/04/XRP-4H-4-scaled.jpg" data-wpel-link="internal"><img class="wp-image-248644 size-full" src="https://cryptopotato.com/wp-content/uploads/2023/04/XRP-4H-4-scaled.jpg" alt="xrp_price_chart_3004232" width="2560" height="1386" srcset="https://cryptopotato.com/wp-content/uploads/2023/04/XRP-4H-4-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2023/04/XRP-4H-4-300x162.jpg 300w, https://cryptopotato.com/wp-content/uploads/2023/04/XRP-4H-4-1024x554.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2023/04/XRP-4H-4-768x416.jpg 768w, https://cryptopotato.com/wp-content/uploads/2023/04/XRP-4H-4-1536x832.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2023/04/XRP-4H-4-2048x1109.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2023/04/XRP-4H-4-50x27.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px" /></a><figcaption id="caption-attachment-248644" class="wp-caption-text">Source: TradingView</figcaption></figure>
<p>The post <a href="https://cryptopotato.com/xrp-stuck-in-limbo-will-0-5-fall-soon-or-is-another-crash-coming-ripple-price-analysis/" rel="nofollow">XRP Stuck in Limbo, Will $0.5 Fall Soon or is Another Crash Coming? (Ripple Price Analysis)</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.</p>

XRP Stuck in Limbo, Will $0.5 Fall Soon or is Another Crash Coming? (Ripple Price Analysis)

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