The price of Ripple (XRP) has faced strong selling pressure near the $0.55 resistance level, resulting in a significant decline. Currently, XRP is testing the $0.5 support level, which has been a solid base since mid-July. This support region may attract buyers and lead to a consolidation phase before the next move. On the 4-hour chart, Ripple's price action indicates a clear downtrend, with a series of lower highs and lower lows. The price recently broke below the lower boundary of a bearish flag pattern, confirming the continuation of the downtrend. Ripple is now in a critical support zone between the 0.5 and 0.618 Fibonacci retracement levels, and a break below the latter could lead to a further decline. However, if the price finds support in this region, a period of consolidation may occur in the short term.



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