CandleFocus Ripple Price Analysis: Is XRP Headed to a Crash Below $0.50?
2024-10-04
Author: Content Editor
Ripple's XRP has encountered selling pressure near the $0.65 resistance zone, resulting in a sharp decline. This indicates a potential shift toward bearish dominance as the price breaks below an ascending wedge pattern. XRP may continue to descend towards the $0.5 threshold in the near future. The cryptocurrency briefly surpassed the $0.65 level but faced intense selling pressure, leading to a reversal back inside a flag pattern. XRP is currently testing a critical support region marked by the flag's lower trendline and Fibonacci retracement levels, which is expected to temporarily hold the price and potentially lead to a short-term bullish corrective move and sideways consolidation before the next major trend direction is established.
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