CandleFocus Ripple Price Analysis: Calm Before the Storm for XRP Following Long Consolidation?
2024-10-09
Author: Content Editor
The price of Ripple (XRP) has been consolidating in a narrow range and its future direction remains uncertain. On the USDT paired chart, the price has dropped below the 200-day moving average and could further decline towards the $0.5 support level. However, a rebound is still possible from that area. The BTC paired chart is in a similar condition, with the price currently testing the 800 SAT support level and the 200-day moving average. If these levels are broken, a drop towards 650 SAT could be expected. A rebound from the 800 SAT level could lead to a rally towards 1,200 SAT, but this scenario is less likely than a bearish one.
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