CandleFocus

Ripple Price Analysis: How Low Can XRP Go if it Loses the $0.5 Support?

Author: Content Editor
The recent price action of Ripple (XRP) suggests a cautious market, with the price rebounding briefly from the $0.5 support zone towards the 200-day moving average. However, if there is a rejection at this level, it could solidify the ongoing bearish trend. The daily chart shows selling pressure after failing to sustain gains near the 200-day moving average, indicating that sellers are trying to push the price lower. Ripple found support at the significant $0.5 level, but another rejection at the 200-day moving average could lead to further declines, possibly targeting the $0.46 mark. The 4-hour chart shows a descending consolidation pattern, with Ripple trading within a support zone defined by the 0.5 and 0.618 Fibonacci levels. A breakout above the upper boundary of the descending wedge pattern could indicate a bullish rebound, but a rejection followed by a decline towards the $0.5 support is the more likely scenario in the mid-term given the overall market sentiment and recent downward trends.

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