Daily

<p>Ripples price has been sinking over the last few months following a clear rejection from a key resistance level. It is currently within a decisive area, and the outcome would likely determine the mid-term trend of the market.</p>
<h2 id="technical-analysis">Technical Analysis</h2>
<p>By: <a href="https://twitter.com/TradingRage" data-wpel-link="external" target="_blank">Edris</a></p>
<h3 id="xrp-usdt-daily-chart">XRP/USDT Daily Chart</h3>
<p>The price has been making lower highs and lows recently, following the significant rally in early May. The bearish reversal at the $0.6 area has initiated the current downtrend, but the cryptocurrency is currently testing a key support level around both the $0.42 mark and the 200-day moving average.</p>
<p>A break below these levels would be catastrophic for Ripple, as the market could rapidly plunge toward $0.3, and potentially even lower, in the short term.</p>
<p>On the other hand, if a rebound occurs, the 50-day moving average, located near the $0.48 mark, would be the first likely target in the coming days.</p>
<figure id="attachment_250681" aria-describedby="caption-attachment-250681" style="width: 2560px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/05/XRPUSDT-Daily-May-15-2023-scaled.jpg" data-wpel-link="internal"><img class="wp-image-250681 size-full" src="https://cryptopotato.com/wp-content/uploads/2023/05/XRPUSDT-Daily-May-15-2023-scaled.jpg" alt="xrp_price_chart_1505231" width="2560" height="1441" srcset="https://cryptopotato.com/wp-content/uploads/2023/05/XRPUSDT-Daily-May-15-2023-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2023/05/XRPUSDT-Daily-May-15-2023-300x169.jpg 300w, https://cryptopotato.com/wp-content/uploads/2023/05/XRPUSDT-Daily-May-15-2023-1024x576.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2023/05/XRPUSDT-Daily-May-15-2023-768x432.jpg 768w, https://cryptopotato.com/wp-content/uploads/2023/05/XRPUSDT-Daily-May-15-2023-1536x864.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2023/05/XRPUSDT-Daily-May-15-2023-2048x1153.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2023/05/XRPUSDT-Daily-May-15-2023-50x28.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px" /></a><figcaption id="caption-attachment-250681" class="wp-caption-text">Source: TradingView</figcaption></figure>
<h3 id="xrp-btc-daily-chart">XRP/BTC Daily Chart</h3>
<p>Against BTC, the price is still trapped inside a large descending channel after failing to break above it on numerous occasions. The 50-day moving average near the 0.000017 level has also been broken to the downside, and the 0.000015 support is currently being penetrated.</p>
<p>A breakdown of this level would likely result in a deeper decline toward the 0.000013 level. The RSI is also showing values below 50%, as momentum is clearly in favor of the bulls.</p>
<figure id="attachment_250680" aria-describedby="caption-attachment-250680" style="width: 2560px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/05/XRPBTC-Daily-May-15-2023-scaled.jpg" data-wpel-link="internal"><img class="wp-image-250680 size-full" src="https://cryptopotato.com/wp-content/uploads/2023/05/XRPBTC-Daily-May-15-2023-scaled.jpg" alt="xrp_price_chart_1505232" width="2560" height="1441" srcset="https://cryptopotato.com/wp-content/uploads/2023/05/XRPBTC-Daily-May-15-2023-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2023/05/XRPBTC-Daily-May-15-2023-300x169.jpg 300w, https://cryptopotato.com/wp-content/uploads/2023/05/XRPBTC-Daily-May-15-2023-1024x576.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2023/05/XRPBTC-Daily-May-15-2023-768x432.jpg 768w, https://cryptopotato.com/wp-content/uploads/2023/05/XRPBTC-Daily-May-15-2023-1536x864.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2023/05/XRPBTC-Daily-May-15-2023-2048x1153.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2023/05/XRPBTC-Daily-May-15-2023-50x28.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px" /></a><figcaption id="caption-attachment-250680" class="wp-caption-text">Source: TradingView</figcaption></figure>
<p>The post <a href="https://cryptopotato.com/xrps-best-and-worst-case-scenarios-as-0-4-seems-resilient-ripple-price-analysis/" rel="nofollow">XRP&#8217;s Best and Worst Case Scenarios as $0.4 Seems Resilient (Ripple Price Analysis)</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.</p>

XRP’s Best and Worst Case Scenarios as $0.4 Seems Resilient (Ripple Price Analysis)

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