Daily

<p>Ripple’s price has found support at the significant 200-day moving average at around $0.41, leading to a robust uptrend. Should it continue its surge, Ripple&#8217;s next destination will be the resistance zone at $0.56, but what if the bears take control?</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>Analyzing the daily chart reveals that following several weeks of rejection, the price has finally found support at the 200-day moving average of $0.41, initiating an upward trend. Consequently, the recent rejection phase can be described as a mid-term consolidation correction stage, which is vital for a healthy bullish rally.</p>
<p>This indicates that XRP could attempt to breach the $0.56 barrier. If the price manages to surpass this critical zone, it is likely to enter a long-term bullish rally.</p>
<figure id="attachment_251267" aria-describedby="caption-attachment-251267" style="width: 2560px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/05/XRP-Daily-6-scaled.jpg" data-wpel-link="internal"><img class="wp-image-251267 size-full" src="https://cryptopotato.com/wp-content/uploads/2023/05/XRP-Daily-6-scaled.jpg" alt="xrp_price_chart_1805231" width="2560" height="1386" srcset="https://cryptopotato.com/wp-content/uploads/2023/05/XRP-Daily-6-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-Daily-6-300x162.jpg 300w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-Daily-6-1024x554.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-Daily-6-768x416.jpg 768w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-Daily-6-1536x832.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-Daily-6-2048x1109.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-Daily-6-50x27.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px" /></a><figcaption id="caption-attachment-251267" class="wp-caption-text">Source: TradingView</figcaption></figure>
<h3 id="the-4-hour-chart">The 4-Hour Chart</h3>
<p>Turning to the 4-hour chart, XRP initially dropped to the static resistance region of $0.42, which coincides with the 200-day moving average. However, the price found support and began rallying toward the mid-trend line of the channel.</p>
<p>There is a significant resistance region at $0.4675, which currently serves as the primary barrier on the 4-hour timeframe. Should the price surpass this resistance, its next target will be the channel’s upper boundary, approximately at $0.6.</p>
<figure id="attachment_251266" aria-describedby="caption-attachment-251266" style="width: 2560px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/05/XRP-4H-6-scaled.jpg" data-wpel-link="internal"><img class="wp-image-251266 size-full" src="https://cryptopotato.com/wp-content/uploads/2023/05/XRP-4H-6-scaled.jpg" alt="xrp_price_chart_1805232" width="2560" height="1386" srcset="https://cryptopotato.com/wp-content/uploads/2023/05/XRP-4H-6-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-4H-6-300x162.jpg 300w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-4H-6-1024x554.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-4H-6-768x416.jpg 768w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-4H-6-1536x832.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-4H-6-2048x1109.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2023/05/XRP-4H-6-50x27.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px" /></a><figcaption id="caption-attachment-251266" class="wp-caption-text">Source: TradingView</figcaption></figure>
<p>The post <a href="https://cryptopotato.com/xrp-consolidates-at-0-41-calm-before-the-storm-ripple-price-analysis/" rel="nofollow">XRP Consolidates at $0.41: Calm Before the Storm? (Ripple Price Analysis)</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.</p>

XRP Consolidates at $0.41: Calm Before the Storm? (Ripple Price Analysis)

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