Bitcoin

Resistance

You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ripples-market-struggle-amidst-sec-lawsuit-key-support-and-resistance-levels" rel="noopener noreferrer nofollow">Ripple’s Market Struggle Amidst SEC Lawsuit: Key Support and Resistance Levels</a> 
The cryptocurrency market continues to face selling pressure, with Bitcoin leading the downturn. Ripple (<a href="https://en.bitcoinhaber.net/xrp-continues-to-attract-whale-activity-amid-price-movement" rel="noopener noreferrer nofollow">XRP</a>), however, has been underperforming, particularly due to the ongoing lawsuit with the SEC. As of the article’s writing, XRP traded at $0.5153, having recently fallen below a key support level.
The daily XRP chart shows a significant rising channel formation, providing investors with insights. A recent break below this channel’s support could spell long-term negative implications for XRP’s price, accelerated by the loss at the EMA 200 level.
For Ripple, critical daily support levels to watch are $0.5113, $0.4966, and $0.4796. Closing below the $0.5113 level could lead to a loss of momentum for XRP’s price.
On the flip side, important resistance levels on the daily chart are $0.5271, $0.5402, and $0.5556. A daily close above the $0.5402 level, intersecting with the EMA 21, could help XRP gain momentum.
The XRP/BTC weekly chart has been featuring a wedge pattern, but recent declines have kept the price below the pattern’s support line for nearly a month, indicating a bearish outlook. Key support levels for XRP/BTC are 0.00001281, 0.00001222, and 0.00001158, with a close below 0.00001222 potentially leading to further losses against Bitcoin. Conversely, resistance levels to watch are 0.00001285, 0.00001388, and 0.00001562, with a weekly close above 0.00001562 possibly signaling a gain in value against Bitcoin.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/ripples-market-struggle-amidst-sec-lawsuit-key-support-and-resistance-levels" rel="noopener noreferrer nofollow">Ripple’s Market Struggle Amidst SEC Lawsuit: Key Support and Resistance Levels</a></h5>

Ripple’s Market Struggle Amidst SEC Lawsuit: Key Support and Resistance Levels

BH NEWS

Alte articole publicate pe 24 ian. 2024

Signals Indicate Faster Ripple Recovery– XRP’s Ascent to a Projected Price Milestone!

DeBank's Rabby Wallet Launched Points Program, Initial Points Dropped to All Ethereum Address

US Bank Foresees Major Bitcoin Price Drop To $20,000

AI Predicts Potential Bitcoin Price Drop

Kelexo (KLXO) Presale Runs Wild, as Celestia (TIA) and Ethereum (ETH) Whales Snap Up Early Positions

Netflix Stock Nears 52-Week High After Wave of Upgrades on Q4 Results

Join our free newsletter for daily crypto updates!