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<p>Ripple&#8217;s price was rejected from a key resistance level a few weeks ago, highlighting indecisiveness. Even so, there is still hope for the bulls that the rally is not over.</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>XRP&#8217;s price failed to break through the $0.55 resistance level and has been dropping since. The 50-day moving average is currently providing support near the $0.46 mark and is closely followed by the 200-day moving average at around $0.41.</p>
<p>This confluence of support elements makes the $0.40 level significantly important, and a break below would likely lead to a rapid drop toward the $0.3 mark in the coming weeks.</p>
<p>On the other hand, a rebound from this area would pave the way for another test of the $0.5 resistance zone, with a higher probability for a bullish breakout this time around.</p>
<figure id="attachment_248262" aria-describedby="caption-attachment-248262" style="width: 2560px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/04/XRPUSDT-Daily-Apr-27-2023-scaled.jpg" data-wpel-link="internal"><img class="wp-image-248262 size-full" src="https://cryptopotato.com/wp-content/uploads/2023/04/XRPUSDT-Daily-Apr-27-2023-scaled.jpg" alt="xrp_price_chart_2704231" width="2560" height="1441" srcset="https://cryptopotato.com/wp-content/uploads/2023/04/XRPUSDT-Daily-Apr-27-2023-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2023/04/XRPUSDT-Daily-Apr-27-2023-300x169.jpg 300w, https://cryptopotato.com/wp-content/uploads/2023/04/XRPUSDT-Daily-Apr-27-2023-1024x576.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2023/04/XRPUSDT-Daily-Apr-27-2023-768x432.jpg 768w, https://cryptopotato.com/wp-content/uploads/2023/04/XRPUSDT-Daily-Apr-27-2023-1536x864.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2023/04/XRPUSDT-Daily-Apr-27-2023-2048x1153.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2023/04/XRPUSDT-Daily-Apr-27-2023-50x28.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px" /></a><figcaption id="caption-attachment-248262" class="wp-caption-text">Source: TradingView</figcaption></figure>
<h3 id="xrp-btc-daily-chart">XRP/BTC Daily Chart</h3>
<p>Things do not look much better against BTC, as the price has been rejected from the higher boundary of the large descending channel on multiple occasions. The 0.000015 area is being tested at the moment, and a break below it would prove disastrous for the bulls, as there is not much support below before the 0.000013 mark.</p>
<p>The RSI is also indicating bearish momentum dominance by demonstrating values below 50%. Therefore, a bearish continuation seems highly likely for Ripple on the BTC paired chart.</p>
<figure id="attachment_248261" aria-describedby="caption-attachment-248261" style="width: 2560px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/04/XRPBTC-Daily-Apr-27-2023-scaled.jpg" data-wpel-link="internal"><img class="wp-image-248261 size-full" src="https://cryptopotato.com/wp-content/uploads/2023/04/XRPBTC-Daily-Apr-27-2023-scaled.jpg" alt="xrp_price_chart_2704232" width="2560" height="1441" srcset="https://cryptopotato.com/wp-content/uploads/2023/04/XRPBTC-Daily-Apr-27-2023-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2023/04/XRPBTC-Daily-Apr-27-2023-300x169.jpg 300w, https://cryptopotato.com/wp-content/uploads/2023/04/XRPBTC-Daily-Apr-27-2023-1024x576.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2023/04/XRPBTC-Daily-Apr-27-2023-768x432.jpg 768w, https://cryptopotato.com/wp-content/uploads/2023/04/XRPBTC-Daily-Apr-27-2023-1536x864.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2023/04/XRPBTC-Daily-Apr-27-2023-2048x1153.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2023/04/XRPBTC-Daily-Apr-27-2023-50x28.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px" /></a><figcaption id="caption-attachment-248261" class="wp-caption-text">Source: TradingView</figcaption></figure>
<p>The post <a href="https://cryptopotato.com/xrp-at-crossroads-is-0-5-coming-or-is-another-drop-imminent-ripple-price-analysis/" rel="nofollow">XRP at Crossroads, is $0.5 Coming or is Another Drop Imminent? (Ripple Price Analysis)</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.</p>

XRP at Crossroads, is $0.5 Coming or is Another Drop Imminent? (Ripple Price Analysis)

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