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   Nov 24, 2023 at 09:26 // Price
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
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 </div> <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/2c4/900_900_1/oeb7jpja2vtmj3zoi7xrjj4f13yy1n3t.jpg" width="900" height="563" alt="Prices could start to fluctuate between the moving average lines" title="">
 <p><strong>The price of Ripple (XRP) has stabilized above the 50-day simple moving average (SMA) or the low of $0.57. Detailed cryptocurrency price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com.</strong></p>
 <h2 style="text-align: justify;" id="long-term-forecast-of-the-ripple-coin-price-bearish">Long-term forecast of the Ripple coin price: bearish</h2>
 <p style="text-align: justify;">The cryptocurrency is correcting upwards to retest or break the 21-day simple moving average. Approaching the high of $0.62, the upward correction is encountering resistance. Since the beginning of its decline, the price of the cryptocurrency has made a series of lower highs and lower lows. Currently, Ripple is retesting a lower high. A break above the current lower high will signal the end of the downtrend. That is, XRP will return to its high of $0.73.</p>
 <p style="text-align: justify;">On the other hand, XRP will fall to its previous low of $0.57, where it will meet the resistance of the recent high. In other words, the price of the cryptocurrency will fluctuate if the moving average lines remain unbroken.</p>
 <h2 style="text-align: justify;" id="xrp-indicator-analysis">XRP indicator analysis</h2>
 <p style="text-align: justify;">The upward movement has stalled at the high of $0.62, which is below the 21-day SMA. The price of the cryptocurrency is trapped between the moving average lines. Prices could start to fluctuate between the moving average lines. The moving average lines on the 4-hour chart are pointing downwards due to the recent decline.</p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical Indicators:</h3>
 <p style="text-align: justify;"><b>Key resistance levels – $0.80 and $1.00</b></p>
 <p style="text-align: justify;"><b>Key support levels – $0.40 and $0.20</b></p>
 <p style="text-align: justify;"><b><img width="1024" alt="XRPUSD_(Daily Chart) – Nov. 24.jpg" src="https://cdn.thebittimes.com/images/2023/11/24/a4300b6b65204f0f3d83dd917478197b.webp" height="523" title="XRPUSD_(Daily Chart) – Nov. 24, 2023"><br> </b></p>
 <h2 style="text-align: justify;" id="what-s-the-next-move-for-xrp">What's the next move for XRP?</h2>
 <p style="text-align: justify;">Despite the recent rise, the cryptocurrency is still in a downtrend. If the cryptocurrency is rejected at $0.62, selling pressure will resume. If the current resistance level is broken, the altcoin will resume its climb.</p>
 <p style="text-align: justify;">Coinidol.com reported before that Ripple has been rejected twice at the resistance levels of $0.74 and $0.75. On November 13, the extended candlestick tail is a sign of significant selling pressure at high price levels.&nbsp;</p>
 <p style="text-align: justify;"><img width="1024" alt="XRPUSD_ (4 Hour Chart) – Nov. 24.jpg" src="https://cdn.thebittimes.com/images/2023/11/24/214c49d38abf7f952353c95d8450b30a.webp" height="523" title="XRPUSD_ (4 Hour Chart) – Nov. 24, 2023"><br></p>
 <p style="text-align: justify;"><i><span style="color: #959595;">Disclaimer. This <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.&nbsp;</span></i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ripple-coin-struggles-below-0-62-and-risks-further-decline-tbt71493.html">https://thebittimes.com/ripple-coin-struggles-below-0-62-and-risks-further-decline-tbt71493.html</a></p>

Ripple Coin Struggles Below $0.62 And Risks Further Decline

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TheBitTimes

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